SOCIAL TOPICS (Archive): HISTORY OF WALDEN ASSET MANAGEMENT/SRI

Published, Spring 2002

       By Heidi Soumerai

SIDEBAR to Walden's Ambitious Social Research and Action Program for 2002 in Spring 2002 issue of Values.

       Walden's active corporate engagement continues to promote tangible results - changes in policies, practices or increased transparency. While Walden provided leadership in the recent accomplishments noted below, success comes from our commitment to work in concert with others, including faith-based and other institutional investors, nongovernmental organizations and unions.

       FleetBoston Financial and Bemis agreed to strengthen reporting on diversity initiatives including adopting a policy to make available comprehensive workforce composition data by race and gender.

       Teleflex and Affiliated Computer Services amended their nondiscrimination policies to explicitly include sexual orientation.

       J.C. Penney (owner of Eckerd Drug Stores) pledged to end substantially all sales of mercury thermometers by the end of March. Hospital chain HCA disclosed publicly that it has discontinued purchases of mercury-containing medical devices, and that it will phase out all such devices by January 2005. Mercury pollution puts 10 percent of newborn babies at risk of neurological damage each year in the United States, and is linked to fish consumption advisories in 41 states.

       Lehman Brothers, along with the coal mining company Peabody Energy in which it has a controlling interest, agreed to specific actions that will help ensure the protection of the Navajo Aquifer water supply. This threatened water source is crucial to the economic and cultural livelihood of the Hopi and Navajo Nations.

Heidi Soumerai is director of Walden's social research group. She also co-chairs our Social Planning & Policy Committee.