2004 SOCIAL IMPACT
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OUR 2004 SOCIAL IMPACT UPDATES (IN PDF FORMAT)
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2004 Highlights
As a shareholder in the Domini
Funds, you make a difference in the world. Listed
below are highlights of
how you made a difference in 2004.
Corporate Engagement
Global Labor Standards: In May 2004, Gap Inc. released its first
Social Responsibility Report,
after two years of
dialogue between the company and a coalition of socially responsible
investors including
Domini Social Investments. This report, which focuses largely on labor
standards in the
factories that make Gap products, set new standards of transparency for the
apparel industry. Even
Gap’s critics praised the company for its frank discussion of factory
work conditions. The
company plans to update the report annually in the future.
Global Poverty and Trade: From 1974 through 2004, developing countries
benefited from quotason exports to developed countries under an international
treaty called the Multifiber Arrangement (MFA). The expiration of the treaty
could create a significant humanitarian crisis. We wrote to 20 companies in our
portfolio, asking how they plan to respond to the new quota-free environment,
and urging them to consider the human effects of their decisions.
Diversity: Masco, OGE Energy, and NiSource agreed
to amend their corporate policies to
prohibit discrimination
based on sexual orientation.
Corporate Political Contributions: Time Warner and Tribune agreed to disclose
information on their websites regarding their political contributions. Time
Warner’s website also includes its
positions on public
policy issues.
Fair Trade Coffee: Procter & Gamble began to sell Fair Trade
Certified® coffee in supermarkets across the United States. P&G began
selling Fair Trade Certified coffee online in 2003, after an intensive dialogue
co-led by Domini.
Public Policy
Proxy Voting Transparency: In 2004, every U.S. mutual fund was required to
reveal its complete proxy voting record for the previous year, under a rule
that Domini petitioned for.
Human Rights: Domini signed a Supreme Court brief in support
of the Alien Tort Claims
Act, an important tool
for holding human rights violators accountable (the brief was filed by
the International Labor
Rights Fund).
