Mutual fund combats warming.Pax World Funds Pax World Funds launched the first socially responsible mutual fund in the United States in 1971. The Funds are dedicated to promoting peace, protecting the environment, advancing equality, and fostering sustainable development. , the mutual fund company founded in 1971 to provide socially responsible investments, has continued to expand and diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. since then to include environmental responsibility (see "Investing for the Earth," cover story, March/April 2004). Now Pax is launching another first: It is taking direct action against carbon emissions that lead to global warming global warming, the gradual increase of the temperature of the earth's lower atmosphere as a result of the increase in greenhouse gases since the Industrial Revolution. . Pax has become an associate member of the Chicago Climate Exchange, a pilot program marketplace for reducing and trading greenhouse gas greenhouse gas n. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas emissions. (Members make electronic trades of emissions through allowances or offsets.) Pax will offset its greenhouse gas releases by purchasing CO2 credits and retiring them, equivalent to 360 tons of emissions per year. CONTACT: Pax World Funds, (800)767-1729, www. paxworld.com. |
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