Negative Screens

We encour­age our clients to pro­vide us with social screens and we respect our clients’ abil­ity to reject invest­ments for moral rea­sons. How­ever we are reluc­tant to define social screens in ways that could seri­ously impair invest­ment results for the sake of the appear­ance of purity. If clients do not spec­ify their own screens, we will apply our default screens listed on the fol­low­ing pages.

Our screens are based on the idea that the pri­mary rea­son to prac­tice socially respon­si­ble invest­ing is to achieve mean­ing­ful improve­ments in the behav­ior of companies.

  • We will exclude enter­prises engaged in intrin­si­cally destruc­tive activ­i­ties that can only be changed by polit­i­cal action, since those com­pa­nies will not vol­un­tar­ily go out of busi­ness in response to share­holder pressure.
  • We choose com­pa­nies that already have con­struc­tive poli­cies which we attempt to improve through share­holder dialog.

We can­not guar­an­tee that the infor­ma­tion we use to imple­ment these screens is accu­rate or complete.