Domini Social Investments Targets Global Warming

Domini Social Investments Targets Global Warming

Domini Social Investments, manager of the Domini Social Equity Fund, has launched a campaign urging its shareholders to send postcards to the Environmental Protection Agency, asking EPA Secretary Christie Todd Whitman to take action against global warming.

The socially responsible mutual fund company sent out the postcards to some 37,000 shareholders in July, asking them to sign and mail the postcards to EPA Chief Whitman in Washington. The postcards urge Secretary Whitman to determine that carbon dioxide (CO2) and other greenhouse gases are pollutants under the Clean Air Act, and request that the EPA use its regulatory authority to place limits on greenhouse gas emissions from new motor vehicles.

According to Amy Domini, founder and managing principal of Domini Social Investments, global warming looms large as a potentially “catastrophic” environmental crisis.

“The Bush Administration’s unfortunate decision to sit out the Kyoto Protocol means that it is more important for consumers, investors, businesses and other citizens to get involved and urge our nation’s leadership to adopt more sensible priorities,” Domini said.

In launching the postcard campaign, Domini teamed with the International Center for Technology Assessment (CTA), a bi-partisan policy group working on science and technology issues, and Sustain, a non-profit organization working on environmental communications strategies. The postcards are being submitted pursuant to a Request for Comments on a petition filed by CTA and other groups asking the EPA to regulate greenhouse gas emissions from automobiles under the Clean Air Act (EPA Docket No. A-2000-04).

“One of the goals of socially responsible investing is to promote more sustainable business strategies and economic policies,” Domini said. “Our shareholders are strongly committed to the environment, and Domini Social Investments will continue to make climate change a priority issue.”

Domini Social Investments manages more than $1.7 billion in assets for individual and institutional investors seeking to create positive change by integrating social and environmental values into their investment decisions. Its flagship fund, the Domini Social Equity Fund, was the first socially and environmentally screened index fund and is the nation’s largest socially responsible mutual fund. The Fund includes companies with positive records in community involvement, the environment, diversity and employee relations, and excludes companies deriving significant revenues from alcohol, tobacco, gambling, nuclear power and weapons contracting.

In addition to the Domini Social Equity Fund, the company also offers the Domini Social Bond Fund (NASDQ: DSBFX) and an FDIC-insured money market account (in partnership with ShoreBank), both of which focus on community economic development.

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RELATED LINKS:

GreenBiz Essentials: Climate Change

Books: Investing With Your Values: Making Money and Making a Difference (by Hal Brill, Jack A. Brill, and Cliff Feigenbaum)

Books: Socially Responsible Investing: Making a Difference and Making Money (By Amy Domini)