Eco-nomics

GREEN COMPANY PROFILES PROGRESSIVE ASSET MANAGEMENT


Progressive Asset Management (PAM) the first full-service socially responsible investment brokerage, offers a complete range of services for portfolios large or small. PAM has a total commitment to SRI. Their social investment philosophy rests on two premises - social progress and financial return: Social progress: Proponents of the social investment philosophy understand that profits without responsibility contain hidden costs eventually passed on to investors, consumers, communities and the environment. Socially responsible investors are therefore selective investors.

They avoid investments in companies that pollute, discriminate, impose unsafe working conditions, among other criteria. They choose to invest in businesses actively benefiting society and the environment (or whose impact is neutral).

Financial Return: Social investments makes good financial sense. Companies not following socially and environmentally responsible practice stand to lose a portion of their earnings to regulatory pressures, fines, strikes, lawsuits and boycotts. Those committed to social investment believe, that the best long-term investments combine positive social and financial performance. The socially responsible approach allows investors to pursue a good financial return and progressive social goals at once. Since 1987, PAM has provided investors the opportunity to invest for financial return and social progress. The Oakland, California-based firm is undergoing rapid expansion (six additional offices in the last three years). Currently they have offices located in Oakland, Portland, New York, Boston, Baltimore, Northern Michigan and New Hampshire.

The company serves over 4,000 clients, and handles $700 million in assets. Clients include: foundations, churches, labor unions, non-profit organizations, and individuals investors.

PAM also provides social investment services to the financial community, including mutual fund companies, foundations and traditional investment firms.

PAM distinguishes itself as an industry leader by the scope of services it provides. They offers clients the opportunity to invest in all major socially and environmentally responsible mutual funds, as well as individual stocks, bonds and retirement accounts. Clients also have access to more than 100 of the top-performing investment managers providing screened portfolio management. PAM employs four key strategies to meet the needs of their diverse clients, maximizing the power of a share (stock) in the marketplace and in society:

1. The Progressive Portfolio Services (PPS) - offers comprehensive financial consulting services to individual and institutional investors with larger portfolios such as foundations, non-profit organizations, churches and labor unions. PPS uses a network of top investment managers.

2. Social Research and Screening - PAM maintains relationships with all major providers of social research including KLD, ICCR and the Data Center. They also conduct their own research and social screening to evaluate companies.

3. Shareholder Activism - empowering investors to help transform the world in which we live with the capability to influence America's economic life in the present and into the future. PAM works on shareholders behalf to engage in dialogue with company officials, as well as introduce, initiate, and vote on shareholder resolutions.

4. Community Impact Investments - is a proactive strategy for clients who want to put their money to work for concrete social and environmental goals, such as with community development banks or international loan funds.

PAM participates directly in shareholder activism. In 1997, they are initiating and co-filing several shareholder resolutions:

1) Walt Disney - excessive executive compensation and global supplier standards. The Wall Street Journal has featured the supplier resolution story on PAM & Disney.

2) Union Camp Corporation - phase out the use of chlorine and chlorine-containing compounds in its paper and pulp manufacturing process.

3) Pacific Telesis - halt use of timber cut from ancient rain forest in British Columbia as a source of paper for their telephone directories.

4) Unocal - undertake an annual pollution prevention audit to find ways of reducing the volume of toxic emissions from its refineries.

PAM is also working with Time Warner on its plans to convert use of chlorine-free paper in its publications as well as Nike on their Third World labor sourcing.

For more information on PAM, their financial services, research information or social screening call their headquarters in Oakland at (800)786-2998 or visit their web site at- www.Progressive-Asset.com

[Progressive Asset Management's President, Eric Leenson article on the Future of SRI].

Copyright © 1996. The Light Party.

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