Domini Social Investments Principal Receives SRI Service AwardSocial Investment Forum Honors Steven Lydenberg for Service to Industry
New York, NY – Domini Social Investments LLC, manager of the Domini Social Equity Fund (DSEFX), announced today that Steven D. Lydenberg has been awarded the Social Investment Forum’s prestigious Service Award, awarded each year to an individual whose work has advanced the understanding and practice of socially responsible investing. The award was presented at the annual social investment industry conference known as “SRI in the Rockies,” which was held September 9-12 in Tucson, Arizona, but was cut short as a result of the terrorist attacks of September 11.
“This is a difficult time to be receiving an award, as whatever we do seems diminished by the terrible turn of world events,” said Mr. Lydenberg. “However, the fundamental goal of socially responsible investing – to positively impact corporate behavior in the direction of a more sustainable and humane economy – is perhaps more timely than ever, and we should re-dedicate ourselves to this important work.”
Mr. Lydenberg recently joined Domini Social Investments as a principal responsible for global social investing analysis. He has been active in social investing for over 25 years and is a founder and the former Director of Research at Kinder, Lydenberg, Domini & Co. (KLD), where he was instrumental in the creation and maintenance of the Domini 400 Social IndexSM, the first socially and environmentally screened equity index in the United States. He also played a key role in the development of the firm’s Socrates Database, currently a major corporate accountability research tool for socially responsible institutional investors. He continues to serve as a member of KLD’s Board of Directors and the Domini Social Index Committee.
Mr. Lydenberg has written and spoken extensively on issues relating to corporate accountability and socially responsible investing. In 1986, while Director of Corporate Accountability Research at the Council on Economic Priorities, he co-authored Rating America’s Corporate Conscience, the first systematic assessment of the records of corporations across a broad range of social and environmental issues. He is also co-author, with Amy Domini and Peter Kinder, of The Social Investment Almanac (1993) and Investing for Good (1994). Mr. Lydenberg’s articles have appeared in journals such as Business Ethics (where he has served as a judge for the magazine’s annual corporate responsibility awards) and Business and Society Review.
“Steve Lydenberg is one of the true pioneers and leading intellects in the field of socially responsible investing,” said Amy Domini, founder and a managing principal of Domini Social Investments. “I can think of no one more deserving of this award, and I am personally thrilled to see it bestowed upon such a good friend and respected colleague.”
Mr. Lydenberg is Honorary Chairman of the Board of Directors of Sustainable Investment Research International (SiRi), the international network of socially responsible research organizations that he helped found, and serves on the Advisory Board of CANICCOR, a non-profit devoted to analysis of the lending records of major U.S. banks. He holds degrees from Columbia College and Cornell University and is a Chartered Financial Analyst (CFA).
Domini Social Investments manages more than $1.5 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 oldest 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 (DSBFX) and an FDIC-insured money market account (in partnership with ShoreBank), both of which focus on community economic development.