US Mining Company Agrees to 'Green' Review

By Arnoldy, Ben | The Christian Science Monitor, April 26, 2007 | Go to article overview

US Mining Company Agrees to 'Green' Review


Arnoldy, Ben, The Christian Science Monitor


For the first time, an American mining firm has supported a "social responsibility" resolution put forward by shareholder activists.

Shareholders of Newmont Mining Co., the world's largest gold mining firm, approved this week an independent review of the environmental and social impacts of the company's global operations. And before the vote Tuesday, the Denver-based company took what activists say is the unprecedented step of endorsing the measure.

The milestone shows the ability of the "ethical investing" movement to gain the ear of major corporations, especially for environmental concerns as companies come under increased pressure to go green, say specialists in the field.

"Social investors are small in number, but their ability to attract the attention of substantial numbers of traditional investors on particular issues or particular companies is becoming increasingly easy," says Steven Lydenberg, chief investment officer for Domini Social Investments, a New York-based firm that specializes in socially responsible investing (SRI).

Shareholder activists filed 75 environmental proposals in the first half of 2006, including proposals asking companies to report on energy efficiency, reduce greenhouse emissions, and limit use of toxic chemicals, according to Institutional Shareholder Services.

In 21 cases, the motions resulted in deals with companies, including Home Depot, Lowe's, and General Motors, all of which agreed to provide significant information on aspects of their environmental impact.

Newmont says it urged shareholders to support the review of locally controversial company practices because the company wanted to demonstrate to the outside world that it operates properly.

The company has suffered from recent publicity debacles, including large street protests in South America and a high-profile court battle in Indonesia.An Indonesian court this week acquitted the company of charges that its operations poisoned Buyat Bay and local residents with mercury and arsenic. Indonesian prosecutors reportedly will appeal the decision.

The shareholder resolution recommends that independent members of the company's board of directors - not management - conduct the global review and produce a report.

"It will contain the good, bad, and the ugly, but we're not necessarily afraid of that," says Newmont spokesman Omar Jabara. "We do need to know where we can improve. There's nothing worse than having an issue out there and not knowing about it until it's too late or festered into a big problem."

Whether the report becomes a "greenwash" or truly credible depends on its implementation, says Julie Tanner, corporate advocacy coordinator with Christian Brothers Investment Services, a Catholic SRI firm based in New York, which led the successful shareholder effort. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

US Mining Company Agrees to 'Green' Review
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.