Calvert Goes Carbon Neutral in Partnership with Carbonfund.org; Earth Day Initiatives Promote Practical Action on Climate Change.BETHESDA, Md. -- Calvert, the nation's largest family of socially responsible mutual funds, announced today that it is going 'Carbon Neutral' for Earth Day. This means that the company will offset its office carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. emissions, a key contributor to climate change. This year, Calvert will offset 1,485,000 kWh of its annual electric energy usage through Carbonfund, and through this offset, will support an array of renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. projects throughout the nation. "The program is a powerful way to translate one's commitment towards a better energy future," said Lily Donge, a Social Research Analyst at Calvert. "Calvert is doing a lot to mitigate climate change - through our advocacy and dialogue with companies, our involvement with other investors on climate risk, and now through offsetting our own electricity footprint." This carbon neutral initiative is just one part of a multi-faceted strategy Calvert has created to address the potentially catastrophic impacts of climate change. Calvert released today a web-based special report: "Turning Up the Heat on Climate Change" that outlines Calvert efforts to address climate change. These efforts include research and advocacy with companies to raise awareness about the risks and opportunities presented by climate change and Calvert investments in companies with alternative energy projects. To read the report, go to www.calvert.com/climate.html. To implement the carbon neutral program, Calvert partnered with Silver Spring, MD, based non-profit Carbonfund.org. Calvert is also encouraging employees and shareholders to calculate their carbon footprint A carbon footprint is the total amount of carbon dioxide (CO2) and other greenhouse gases emitted over the full life cycle of a product or service. , reduce their emissions, and offset the remainder by going carbon neutral themselves. In this special report, Calvert provides a carbon calculator calculator or calculating machine, device for performing numerical computations; it may be mechanical, electromechanical, or electronic. The electronic computer is also a calculator but performs other functions as well. and a link to allow individuals to purchase renewable energy credits to offset their own emissions. Calvert also provides a practical list of actions each individual can take to reduce their energy consumption. In addition, Calvert is also encouraging shareholders to write Congress to support federal legislation to address climate change and to write to leading companies to congratulate them on taking steps to mitigate their impacts. "Calvert continuously looks for ways to involve shareholders in making a difference in the world," said Paul Hilton, Calvert's Director of SRI marketing. "That's why we needed to go beyond offsetting our own emissions and give our shareholders a way to learn about the issue and take action. In this way we can help create a community of change." Carbon offsets - also called renewable energy certificates Renewable Energy Certificates (RECs), also known as Green tags, Renewable Energy Credits, or Tradable Renewable Certificates (TRCs), are the property rights to the environmental benefits from generating electricity from renewable energy sources. or 'green tags' - enable individuals and businesses to offset the emissions they are responsible for in their normal activities, like home, office, driving or air travel emissions. For instance, a clean, carbon-free wind farm can offset the carbon dioxide produced by a coal-fired power plant that powers a home. Carbonfund.org is a non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. whose goal is to make carbon offsets and climate protection easy, affordable and a normal way of life for every individual and business. "Calvert is a respected investment industry leader, and we are very pleased that Calvert is taking this important step with Carbonfund.org," said Lesley Marcus Carlson, President of Carbonfund.org. "Climate change is happening now, and will have a major impact on investment decisions throughout the world. The fact that Calvert is taking this step to lead by example and educate is tremendous." About Calvert Calvert, based in Bethesda, Maryland Bethesda is an urbanized, but unincorporated, area in southern Montgomery County, Maryland, just Northwest of Washington, D.C. It takes its name from a church located there, the Bethesda Presbyterian Church, built in 1820 and rebuilt in 1850, which in turn took its name from , is best known as a leader in the field of social investing social investing Limiting one's investment alternatives to securities of firms whose products or actions are considered socially acceptable. For example, an investment manager might decide to eliminate from consideration the securities of all firms engaged , celebrating 30 years of helping investors reach their financial goals. Calvert manages thirty-two mutual funds with over $12 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . In 2000, Calvert created the Calvert Social Index The Calvert Social Index is a stock market index created by the Calvert Group as a benchmark of large companies that are considered socially responsible or ethical. It currently consists of 468 companies, weighted by market capitalization, selected from approximately 1,000 of the (TM), a benchmark for measuring the performance of large, U.S.-based socially responsible companies. About Carbonfund.org Carbonfund makes it easy and affordable for individuals and businesses to reduce their climate impact to zero. With its easy-to-use calculator, low offset cost per ton of CO2, and certified See certification. offset projects, Carbonfund is proving that anyone can reduce their impact on climate change quickly and efficiently. Carbonfund is a 501(c)(3) charitable, nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. . For more information on any Calvert fund, please contact Calvert at 800.368.2748 for a free prospectus. An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The prospectus contains this and other information. Read it carefully before you invest or send money. Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , a subsidiary of Calvert Group, Ltd. (04/06, 6063) |
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