Our firm’s culture and our associates, like our investment products, are innovative and forward-thinking. At the same time, we strive for rigorous standards of corporate conduct and transparency. A guiding principle for Calvert has always been that investment returns and responsible corporate behavior are inextricably linked.
As a firm, we too strive to meet the exacting standards we've set for the companies in which we invest. Calvert continually seeks to maintain, enhance, and expand our diversity, community outreach, commitment to reducing our carbon footprint, and work/life programs and balance. We also seek to maintain rigorous standards of business conduct and ethics, and compliance initiatives that are in the best interests of our shareholders. We believe a long-term perspective is in the interest of our investors and publish our market timing policies online, which we strictly enforce.
In terms of our Management team and the various Boards for our Funds, Calvert seeks diversity and the many benefits it generates, including a broader array of perspectives representing the interests of our many stakeholders. Varied viewpoints also provide the input we need to remain innovative in providing cutting-edge products and services to an increasingly diverse client base. When considering new members for a Fund Board, financial knowledge and expertise in sustainable and responsible investing is taken into account, along with race and gender.
Hiring and Promoting Minorities and Women
In our employment practices, Calvert values a diverse workforce and seeks to represent the diversity of the Washington, D.C., metropolitan area among our associates. We have a policy of actively hiring and promoting women and minorities and our workforce reflects a 33 percent minority representation. We attribute this to our outreach efforts and community alliances that target minority and female candidates at the university and professional levels. (For more detail, see our Corporate Sustainability Reports.)
Calvert provides its employees with a flexible, benefit-rich, family-friendly work environment to promote a healthy work-life balance. A number of Calvert associates telecommute, work compressed work weeks, job share or are on flex-time. We also have strong community volunteerism and corporate recycling programs, and corporate philanthropy policies that provide financial assistance to many local charities and community institutions.
Through our community outreach program, Calvert Community Partners, our associates participate in a wide range of community service activities such as working in a soup kitchen; cleaning up the environment; volunteering in schools; delivering food to homebound patients, and fundraising events, to name a few. Associates receive up to 12 paid volunteer days each year to contribute to the communities in which they work and live. In addition to our volunteer efforts, Calvert also provides financial support for various community organizations.
Awards and Recognition
Calvert has been included on Working Mother magazine's list of "100 Best Companies for Working Mothers," Washingtonian Magazine's list of "Great Places to Work," and currently holds the "Great Place to Work" Seal of Approval from the Alliance for Workplace Excellence. Additional Calvert Achievements and Awards have included Lipper awards for our fixed-income funds, top kasina, LLC website awards, recognition from the Web Marketing Association and Mutual Fund Education Alliance, and Excellence in Recycling, to name a few.
Reducing our Carbon Footprint
Calvert pursues responsible environmental practices in numerous ways, including an energy-efficiency program, waste reduction and recycling, purchase of environmentally preferred products, and recycling of office materials, from all types of paper to cell phones, alkaline batteries, and office computers through a program with Dell recycling services. Long before corporate recycling programs became popular, Calvert instituted a company-wide recycling and waste reduction program, which has, since its inception, logged impressive resource savings. (For example, we've recycled material equal to more than 8,500 trees, avoiding more than 35,000 pounds of air pollution and saving more than 3.5 millions of gallons of water.) In addition, we use only recycled paper and soy-based inks in our printed materials. In 2006, Calvert recycled 28 tons of reusable materials and had a total recycling rate of 77.5 percent—well above Montgomery County’s (Maryland) target recycling rate of 50 percent.