Five Years of Victories for the Corporate Social Responsibility Movement

1999 Corporate Social Responsibility Movement Tops $2 Trillion

Social Investment Forum data (1999) shows nearly one out of every seven dollars under investment management in the U.S. -- more than $2 trillion -- is now actively involved in the corporate social responsibility movement. Remarkably, socially responsible assets grew at twice the rate of all assets under management in the U.S., linked in part to increased participation of defined-benefit and defined-contribution.

1999 Socially Screened Portfolio Is Top Performer

Moreover, socially screened investments are performing with the best as dedicated investors develop a history of doing well while doing good. This year, for example, the Domini Social Equity Fund, one of the most aggressively screened socially responsible funds, received Morningstar's FiveStar overall rating (Highest Rating) among 3,043 and 1,878 domestic equity funds for the 3- and 5-year periods ended 6/30/99, respectively. ICCR members are serious, long-term investors for whom financial performance of their socially-screened portfolios is an important part of their investment strategy. ICCR members need solid returns to run their parishes, synagogues and schools; pay pensions and retirement for their employees, ministers and members; provide healthcare, housing, education and food for the poor and continue their programs for peace, justice and stewardship of the Earth and its resources.

Baxter International to Phase Out PVC Products

In ICCR's biggest victory of the year, BAXTER INTERNATIONAL, the world's largest health care product manufacturer, agreed to phase out polyvinyl chloride (PVC) materials in its intravenous health care products. Present in 25% of health care industry products, PVCs release dioxin, one of the most toxic substances on Earth, when manufactured and incinerated. Recent studies also suggest phthalates, toxic substances added to soften vinyl products, leach into solutions administered to patients through intravenous bags and tubing.

Major Companies Regularly Report on Equal Employment Opportunity

Over the last twenty-eight years, more than 300 corporations received ICCR-member resolutions on equal employment opportunity. Companies from virtually every industry now report EEO data. Religious investors have persuaded over 150 major companies to publicly report their equal employment opportunity records, a key recommendation of the Presidential Glass Ceiling Commission. Eight corporations have produced Glass Ceiling reports on their top salaried employees and obstacles to promotion of women and minorities.

US, Canadian and British Faith Groups Launch Global Principles for Corporate Responsibility

On June 28, 1998 ICCR and its partners the Ecumenical Council for Corporate Responsibility (Britain and Ireland) and the Taskforce on the Churches and Corporate Responsibility (Canada), published the revised Principles for Global Corporate Responsibility: Bench Marks for Measuring Business Performance. In April 1999, the three partners sponsored "Globalizing the Principles," a conference of representatives of faith communities and non-governmental organizations (NGOs) from twenty-one countries, half from African, Asia and Latin America. At conference end, participants affirmed their commitment to develop viable networks throughout the world to respond to the power of global corporations, to use the Global Principles as a tool for accountability and to change corporate behavior.

Since its release, more than 5,000 copies of the revised Global Principles have been discussed by faith community leaders, educators, labor leaders, human rights activists, environmentalists, brokerage firms, corporations and banks. The World Council of Churches gave each national delegation to the United Nations a copy. Following UN Secretary General Kofi Anan's challenge to corporations to adopt global codes of conduct on labor rights, human right and environmental responsibility, the Church Center for the UN held a reception for the UN Commission for Social Development, UN missions and religious organizations, highlighting the Global Principles as a tool for holding corporations accountable and measuring business performance.

DUPONT Will Not Strip Mine the Okefenokee

In one of the year's biggest victories, ICCR members and environmental groups persuaded DUPONT to abandon plans to strip mine along the Okefenokee National Wildlife Refuge in southeastern Georgia. Religious shareholders withdrew a shareholder resolution after DUPONT signed a no-mining agreement with local and state governments, environmental and community groups and private landowners. ICCR members withdrew resolutions after four major electronics companies disclosed significant new information about their operations, policies and efforts to improve their own and their supplier environmental performance.

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