Successful engagement with oil, gas and mining companies requires a tough-minded approach to sectors that present some of the most significant sustainability challenges in the world. Our objectives are based not only on Calvert’s careful research and analysis, but also on the extraordinary expertise of our SAGE extractives team. We bring to the table years of global policy and advocacy experience with many of the largest oil and mining companies in the world, plus on-the-ground exposure to local communities and countries -- from South America to sub-Saharan Africa to Southeast Asia -- on which those companies make such a powerful impact.
Calvert Senior Vice President of Sustainability Research and Policy Bennett Freeman has been a leading advocate for corporate responsibility, human rights and revenue transparency in the extractive sectors for a decade since serving as U.S. Deputy Assistant Secretary of State for Democracy, Human Rights and Labor from 1999-2001. In that capacity, he led the development of the Voluntary Principles on Security and Human Rights, long since viewed as the global human rights standard for the oil, gas and mining sectors and the first operational standards for any sector addressing corporate responsibility in zones of conflict. As an independent consultant in 2002-03, he co-authored the first independent human rights impact assessment (HRIA) undertaken in advance of any major energy project in the world (for the BP Tangguh liquefied natural gas project in West Papua, Indonesia). And from 2007 through May 2009, he served on the Board of the Extractive Industries Transparency Initiative (EITI), representing Oxfam America and the Publish What You Pay Coalition.
Extractive Industries Analyst Paul Bugala came to Calvert in September 2008 after working in the Oxfam America Extractive Industries Program since January 2004. Mr. Bugala’s work at Oxfam included advocacy, community capacity building and research with a particular focus on West Africa and Latin America. His research included the first thorough comparison of EITI reporting requirements and relevant U.S. regulations.
In addition, Lily Donge, Manager of Calvert’s Environment, Climate Change and Water Team, brings her expertise on environmental issues, especially on climate change-related public policy. Earlier in her Calvert career she served as the Calvert Sustainability Research Department’s extractive industries analyst.
In preparation for our SAGE approach, Calvert undertook extensive reviews the sustainability performance of the integrated oil and gas and mining industries to round out our industry expertise. Those reviews drew on extensive dialogues in 2008 with leading companies prior to the launch of the Calvert Large Cap Value Fund at the end of 2008. This prior engagement together with our ongoing sector research, inform our advocacy objectives and strategies designed to enhance the sustainability and investment prospects of these companies.
While each set of SAGE company objectives is focused sharply on that company’s specific challenges, Calvert is advancing several broad goals across the oil, gas and mining companies designated for enhanced engagement in the Calvert Large Cap Value Fund. These issues include climate change public policy to create meaningful reductions in greenhouse gas (GHG) emissions; support for revenue transparency through EITI, U.S. legislation, and International Accounting Standard Board (IASB) guideline changes; and protection of human rights through stronger implementation of the Voluntary Principles on Security and Human Rights and human rights impact assessments (HRIAs).