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Corporate Social Responsibility
News
3.09.2005 ET
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Citizens Advisers Updates Own Study on Global Toxics Rules
Socially responsible investment manager releases results of follow-up survey of consumer electronics manufacturers
(CSRwire) Portsmouth, NH - Citizens Advisers has conducted a follow-up survey
to its 2004 examination of environmental regulations on the consumer
electronics industry. The research explores the industry's preparedness to
meet new European Union directives requiring the phaseout of toxic
chemicals by July 2006. Citizens' social researcher Vesela Veleva, Sc.D.,
who co-authored the survey with Citizens' Suresh A. Sethi, is presenting
the findings today at the Take it Back! 2005 conference in
Alexandria, VA.
The research team surveyed 34 manufacturers in the electronic component
sector of the electronics industry whose stocks are current or former
holdings of Citizens' portfolios. The pool included the 26 companies
originally surveyed in February 2004.
Highlights of the findings include:- 82% of respondents stated they
would meet the July 1, 2006, European Union directive deadline to phase
out from their products six toxic chemicals (lead, cadmium, hexavalent
chromium, mercury, penta-BDE and Octa-BDE).
- None of the respondents said they would impose a product-wide
"price-adder" as a result of the reformulation of their products, although
64% said it might apply to some products.
- 27% of respondents said they would phase out restricted chemicals in
all markets worldwide.
- 78% of respondents said they would go beyond compliance to phase out
additional chemicals of concern.
"Many of the companies that responded
to our survey are among the most proactive in the industry today and tend
to be early adopters of environmental regulations," observed Dr. Veleva.
"However, we were quite pleased to find that so many are going beyond
minimal compliance by targeting additional chemicals of concern."
For further information about Citizens' study, please click here.
About Citizens Advisers
Citizens Advisers has been a leader in responsible investing since its
founding in 1982. Citizens' mission is to generate superior returns by
investing in companies that are fundamentally strong and demonstrate good
corporate citizenship. Serving the needs of institutional and individual
investors as well as financial intermediaries, Citizens offers domestic
and global equity, fixed-income and money market products.
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