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Domini Raises Investor Support for No-Deforestation BillLast week Domini Impact Investments called on members of the California State Senate to pass legislation that would ensure that public purchasing avoids negative impacts on forests. The California Deforestation-Free Procurement Act, AB572, would mandate No Deforestation, No Peat, and No Exploitation (NDPE) policies, certification, and public disclosure from specific state contractors and subcontractors. We drafted a letter to members of the Senate committee reviewing the legislation, coordinating sign on by investors representing $400 billion in assets under management, explaining why investors support the bill. The required policies and disclosure would help ensure that companies we invest in don't face material reputational, legal, and climate risks from deforestation. Deforestation causes release of carbon, loss of plant and animal habitat and species, and can be harmful to indigenous peoples and sustainable livelihoods. In fact, deforestation is currently one of the biggest drivers of climate change and biodiversity loss. An estimated 15% of all greenhouse gas emissions result from deforestation. Loss of forests is largely driven by four forest-rik commodities, beef, palm oil (often found in packaged good and personal care products), soy (for biofuels and animal feed), and pulp and paper. Therefore, changing the policies and practices of large companies and large buyers can have a noticeable impact on rates of deforestation, especially in South American and Southeast Asian rainforests. The bill has already been passed by California's Assembly, and now is being considered by the Senate. It will go to a vote in September. We hope investor support will help California State Senators support this important legislation. About Domini Domini Impact Investments LLC is an SEC (News - Alert)-registered investment adviser specializing exclusively in impact investing. Domini serves individual and institutional investors who wish to create positive social and environmental outcomes while seeking competitive financial returns. Domini applies social, environmental and governance standards to all its investments, believing they help identify opportunities to provide strong financial rewards to its fund shareholders while also helping to create a more just and sustainable economic system. For more information, visit Domini.com. Carefully consider each Fund's investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the Funds' prospectus, which may be obtained by calling 1-800- 762-6814, or at www.domini.com. Please read the prospectus carefully before investing or sending money. The Domini Funds are not bank deposits and are not insured. You may lose money. Investment return, principal value, and yield will fluctuate. Your shares, when redeemed, may be worth more or less than their original cost. DSIL Investment Services LLC (DSILD) distributor. Domini Impact Investments LLC is each Fund's investment manager. The Funds are subadvised by unaffiliated entities. 7/19 View source version on businesswire.com: https://www.businesswire.com/news/home/20190718005637/en/ |
