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2009 Social Impact
Download our 2009 Social Impact Updates (PDF Format).
As a shareholder in the Domini Funds, you make a difference in the world. Listed below are some of the ways that you made a difference in 2009.
Celebrating 15 Years of Shareholder Activism: 2009 marked the 15th anniversary of Domini’s shareholder activism program. Since 1994, we have filed more than 200 resolutions with more than 80 companies and engaged in numerous long-term dialogues with corporate management on a range of social, environmental, and governance issues.
Predatory Credit Card Practices: As part of a campaign against credit card practices that lock consumers in a deepening cycle of debt, Domini filed resolutions with Bank of America and American Express. Domini’s resolution with Bank of America gained a vote of more than 33%. Among other suggestions, the resolution asked the company to end the practice of raising interest rates on consumers who had not been delinquent in their payments. We were pleased to be able to withdraw our proposal at American Express after productive discussions with the company.
Domini Executive Selected for SEC Investor Advisory Committee: Domini’s Managing Director and General Counsel was selected to join the Securities and Exchange Commission’s newly formed Investor Advisory Committee. The 18-member committee was established to provide the SEC with the views of a broad spectrum of investors on the Commission’s regulatory agenda.
Domini Urges Mandatory Corporate Sustainability Reporting: Domini worked with the Social Investment Forum on a proposal asking the SEC to require companies to produce an annual sustainability report using the Global Reporting Initiative (GRI) guidelines, the world’s leading format for corporate sustainability reporting. Domini also joined other shareholders in a successful effort to ask the SEC to reverse its practice of allowing companies to exclude from their proxy statements proposals that ask companies to conduct a “risk evaluation” of a social or environmental issue.
Domini Seeks Disclosure of Corporate Political Contributions: In the fourth quarter of 2009, Domini filed shareholder proposals asking AT&T, Goldman Sachs, and JPMorgan Chase to fully disclose their political contributions.
As of June 30, 2010, American Express, AT&T, Goldman Sachs, and JPMorgan Chase represented 0.3%, 3.8%, 0.9%, and 2.6%, respectively, of the Fund’s portfolio. Bank of America was not held by the Fund at the end of the period. The composition of the Fund’s portfolio is subject to change.
The Domini Funds are subject to market risks and are not insured. You may lose money. This information is provided for educational purposes only, and should not be considered investment advice with respect to any of the holdings listed. The Funds’ portfolios are subject to change.