The Calvert Social Index Committee (“Index Committee”) met on December 19th to review and approve changes to the Calvert Social Index®. The Index Committee meets quarterly to review the component companies of the Index for corporate actions (i.e., spin-offs, mergers and acquisitions, bankruptcy) and for the recommendations made by the Calvert Social Research Department that may affect their eligibility in the Index. The Index Committee has reviewed and approved the following additions and deletions to the Calvert Social Index, effective at the market close today.
ADDITIONS:
Alliance Data Systems Corp. (NYSE: ADS), a company in the Calvert Social Index Universe, has recently been reviewed and now meets Calvert's standards for governance and ethics – privacy. The company has solid governance structures as well as improved overall disclosure regarding the company’s privacy policies and more stringent regulations around data security.
Alexander & Baldwin, Inc. (NASDAQ (GS): ALEX), a member of the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for the environment. The successful implementation of an environmental management system and policies, combined with an improving performance record, now places the company favorably within its industry peers.
American Eagle Outfitters, Inc. (NYSE: AEO), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for human rights. The company has a supplier code of conduct that includes basic human rights and international labor protections and also has a supplier monitoring program that now places American Eagle Outfitters within its industry peers.
Consolidated Edison, Inc. (NYSE: ED), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for the environment. Overall, Consolidated Edison has strengthened its environmental management, including increased support for energy efficiency, and improved its environmental performance.
Genworth Financial, Inc. (NYSE: GNW), a member of the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for governance and ethics.
ITT Educational Services, Inc. (NYSE: ESI), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for governance and ethics. The company has taken positive steps to address past governance problems.
Janus Capital Group, Inc. (NYSE: JNS), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for governance and ethics. The company has strengthened its internal controls and governance policies.
Liz Claiborne, Inc. (NYSE: LIZ), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for Indigenous Peoples’ Rights. The company has taken positive steps on global labor standards, human rights, and a commitment to supporting programs to prevent domestic violence. The company has discontinued a brand name that was offensive to Native Americans.
OfficeMax, Inc. (NYSE: OMX), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert’s standards for governance and ethics. The company has taken positive steps to develop policies and programs to address past governance process and operational problems.
Polaris Industries, Inc. (NYSE: PII), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's standards for environment. Polaris’s improvement in vehicle emissions and overall environmental commitment now place Polaris favorably within its industry peers.
Wendy’s International, Inc. (NYSE: WEN), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert’s standards for the environment, animal welfare, and workplace. Wendy’s has improved its policies and performance in all three areas and particularly, in the company’s adoption of strong animal welfare supplier standards.
YRC Worldwide, Inc. (NASDAQ: YRCW), a company in the Calvert Social Index Universe, was added to the Calvert Social Index as it now meets Calvert's minimum environmental and workplace requirements. The implementation of new environmental and workplace programs across several of the company’s operating subsidiaries, combined with an improving performance record, now places the company favorably within its industry peers
DELETIONS:
Darden Restaurants, Inc. (NYSE: DRI), a company in the Calvert Social Index Universe, was removed from the Calvert Social Index as it no longer meets Calvert's standards for animal welfare.
CORPORATE ACTIONS:
Teradata Corporation was added to the Calvert Social Index, due to a spin-off by NCR Corporation.
Metavante Technologies, Inc. was added to the Calvert Social Index, due to a spin-off from Marshall & Ilsley Corporation.
First Data Corporation was deleted from the Calvert Social Index, due to its acquisition by a private equity company.
A.G. Edwards, Inc. was deleted from the Calvert Social Index, due to its acquisition by Wachovia Corporation.
Solectron Corporation was deleted from the Calvert Social Index, due to its acquisition by Flextronics International Ltd.
CDW Corporation was deleted from the Calvert Social Index, due to its acquisition by a private equity group.
Cytyc Corporation was deleted from the Calvert Social Index, due to its acquisition by Hologic Inc.
Avaya, Inc. was deleted from the Calvert Social Index, due to its acquisition by a private equity firm.
Dade Behring Holdings, Inc. was deleted from the Calvert Social Index, due to its acquisition by Belfast Merger Company.
Kyphon, Inc. was deleted from the Calvert Social Index, due to its acquisition by Medtronic Inc.
Ceridian Corporation was deleted from the Calvert Social Index, due to its acquisition by Thomas H. Lee Partners.
Nuveen Investments, Inc. Class A was deleted from the Calvert Social Index, due to its acquisition by Madison Dearborn Partners.
Alltel Corporation was deleted from the Calvert Social Index, due to its acquisition by TPG Capital & GS Capital.
Tektronix, Inc. was deleted from the Calvert Social Index, due to its acquisition by Danaher Corporation.
CheckFree Corporation was deleted from the Calvert Social Index, due to its acquisition by Fiserv Inc.
Dow Jones & Company, Inc. was deleted from the Calvert Social Index, due to its acquisition by News Corporation.
What is the Calvert Social Index?
Calvert, a leader in socially responsible investing, has created the Calvert Social Index, a broad-based, rigorously constructed benchmark for measuring the performance of US-based socially responsible companies.
How is the Calvert Social Index constructed?
Calvert starts by taking the 1,000 largest companies in the US, represented by stocks listed on the NYSE, NASDAQ, and AMEX (not including closed-end mutual funds, ADRs, REITS and non-common shares). Calvert's Social Research Department then analyzes each company. A social audit is conducted in the following areas: governance and ethics; environment; workplace; product safety and impact; community relations; international operations and human rights; and indigenous peoples’ rights. The stocks that meet Calvert’s social criteria make up the Calvert Social Index.