February 24, 2006 - 19:29 — Rick Searle
As described within the article that appears with our first podcast "Saving the Planet with Your Investments," socially responsible investing can be a powerful agent in bringing about greater environmental and social responsibility among corporations. For example, through shareholder advocacy, mutual fund managers in the United States were able to convince Dell Computer to initiate a take-back and recycling program for it's products, while in Canada, Petro-Canada agreed to put its human rights policies into action in North Africa and the Middle East after the Ethical Funds Company threatened to put forth a shareholder resolution on this issue at the oil company's annual general meeting.
On the global stage, shareholder advocacy led ten of the world's leading banks (including Citigroup, Barclays, ABN Ammro, Royal Bank of Scotland, and Credit Suisse) to endorse the "Equator Principles" which demand that they adopt strict environmental and social impact standards when financing developments.
For more success socially responsible investing success stories, check out the links with the podcast. Also don't miss the GreenBiz and CSRwire news feeds on our site.
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