Media Centre

Press Releases

2008

Calvert Commits to Boreal Protection

Socially Responsible Investment Firm Pledges to Engage Business to Advance Solutions to Preserve Canada's Boreal Forest; Joins BLC and Signs Boreal Conservation Framework

March 17 , 2008 - Ottawa

One of the largest socially and environmentally responsible mutual fund companies in the U.S. announced today they will fully support the protection of Canada’s Boreal Forest by adopting the Boreal Forest Conservation Framework (the Framework) and joining the Boreal Leadership Council. "We recognize the importance of conserving Canada’s Boreal Forest as one the world’s largest intact forest ecosystems, and as a critical shield against global warming," said Ms. Baljit Wadhwa, senior social research analyst at Calvert Asset Management Company, Inc. 

"The Framework is a good fit with Calvert’s own efforts to promote sustainability, address climate change, support Indigenous Peoples’ rights, and protect the environment," continued Ms. Wadhwa.  "Calvert has a long history of evaluating potential investments using strong environmental and climate change criteria, and increasing numbers of financial institutions are following our lead."

Calvert ensures that its strong socially and environmentally responsible principles are met through thorough research analyses and dynamic corporate advocacy. Calvert also conducts government policy outreach and advocacy within the investment community. Through shareholder advocacy, it has already actively engaged forestry companies working in Canada’s Boreal Forest to support the Framework by undertaking more socially and environmentally responsible operations.

"We are honored that Calvert has committed to taking a leadership position on Canada’s Boreal Forest," said Larry Innes, executive director of the Canadian Boreal Initiative (CBI). "We value both their strong commitment and incredible resources to engage businesses and governments to balance conservation and development in the Boreal."

First convened in December 2003, the Boreal Leadership Council (BLC) is a unique alliance of leading conservation groups, Aboriginal communities, resource-based companies and financial institutions that are committed to conservation and sustainable development solutions in Canada’s Boreal Forest. This marks the fifth company to join the BLC in the last three months, taking the total number of members to 19.

Members of the BLC are also signatories to the Framework, a vision to preserve at least half of the Boreal Forest while supporting sustainable development on the remaining landscape. Stretching across Canada from Newfoundland and Labrador to the Yukon, the Boreal Forest is one of the world’s largest and last intact forest ecosystems. It provides extensive habitat for a variety of species, is home to over 600 Aboriginal communities and is the backbone of Canada’s forestry, mining and energy sectors. The Boreal Forest contains more fresh water than any ecosystem on the planet and is a vital shield against global warming.

Canadian Boreal Initiative

Based in Ottawa, the Canadian Boreal Initiative (CBI) brings together diverse partners to create new solutions for Boreal conservation and acts as a catalyst for on-the-ground efforts across the Boreal by governments, industry, First Nations, conservation groups, major retailers, financial institutions and scientists. CBI houses the BLC secretariat and works with members to turn the Framework principles into action, expand endorsement of the Framework in key sectors, and influence important policy outcomes.

Calvert Group, Ltd./Calvert Asset Management Company, Inc.

Calvert is one of the nation’s largest socially responsible mutual fund firms with over $15 billion in assets under management.  Calvert offers forty-one funds that allow individual and institutional investors to pursue a broad range of investment objectives within a single fund family. Calvert launched the Calvert Social Index®, a benchmark for measuring the performance of large, U.S.-based socially responsible companies. In addition to its equity funds, Calvert has an extensive lineup of tax-free and taxable fixed income investments. For more information on Calvert, click on www.calvert.com. 

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For further information please contact:

Larry Innes

Canadian Boreal Initiative

T: 416.575.6776

www.borealcanada.ca

Ms. Baljit (Bava) Wadhwa

Calvert Asset Management Company, Inc.

T: 301.961.4755

www.calvert.com