Calvert Social Index Actions
March 26, 2012// BETHESDA, MD// — Calvert’s Sustainability Research Department has submitted the following recommendation regarding action within the Calvert Social Index®. If approved, the following recommendation will be effective when the Calvert Social Index Committee convenes its quarterly meeting in June 2012.
Level 3 Communications, Inc. (NYSE: LVLT), a company in the Calvert Social Index Universe, has recently been reviewed and now meets the Index's standards for environment. Given a recent divestiture, the company no longer has an ownership in high environmental impact operations. If approved, the addition will take place in June 2012.
What is the Calvert Social Index?
Calvert, a leader in sustainable and responsible investing, has created the Calvert Social Index, a broad-based, rigorously constructed benchmark for measuring the performance of US-based sustainable and responsible companies.
How is the Calvert Social Index constructed?
Calvert starts by taking the 1,000 largest companies in the US, based on total market capitalization, included in the Dow Jones Total Market Index (the “Dow Jones TMI”). The Dow Jones TMI represents the top 95% of U.S. companies based on float-adjusted market capitalization, excluding the very smallest and least-liquid stocks. Calvert's Sustainability Research Department then analyzes each company. A sustainability 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 the Index’s sustainable and responsible criteria make up the Calvert Social Index.