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2006 Social Impact
Download our 2006 Social Impact Updates (PDF Format).
As a shareholder in the Domini Funds, you make a difference in the world. Below are highlights of how you made a difference in 2006.
“Most Activist”: Domini was one of four mutual fund families rated “most activist” by The Corporate Library, a respected information resource on corporate governance. This meant we were least likely to support management, and most likely to support shareholder resolutions on corporate governance and social and environmental issues in our proxy voting. (Interested in how your other mutual fund companies rated? See www.fundvotes.com.)
Human Rights: Coca-Cola has been accused of draining aquifers in a drought-stricken region of India, and of complicity in the deaths of trade unionists in Colombia. As part of our ongoing dialogue, we met with Coke’s new CEO and asked the company to address human rights in a more comprehensive way.
Freedom of Expression and the Internet: Domini achieved a significant vote of 29% for a resolution calling on Cisco Systems to report on its involvement with repressive regimes seeking to “balkanize” the Internet through censorship. Domini also joined a multi-stakeholder group working to address violations of fundamental human rights, including freedom of expression and privacy. The group includes Microsoft, Google, Vodafone, and Yahoo! in addition to a range of human rights groups and academics.
Climate Change: Following a shareholder resolution filed (and later withdrawn) by Domini, Devon Energy committed to measure and publicly report its greenhouse gas emissions. As part of this agreement, Domini also hosted a meeting with Devon’s president. Devon is the largest U.S-based independent oil and gas producer. Working with the Carbon Disclosure Project, we wrote to more than 200 U.S. and European companies asking them to disclose their greenhouse gas emissions and climate change policies.
Forestry Practices:After discussions with Domini, Kimberly-Clark commissioned a study to evaluate the feasibility of phasing out its use of wood fiber from sources not certified by the Forest Stewardship Council (FSC). Also following discussions with us, Limited Brands, the parent company of Victoria’s Secret, agreed with the nonprofit ForestEthics that it would use more wood certified by the FSC, increase the recycled content of its paper, and reduce the use of paper in catalogs.