May 2005 | Green Lines
Green Lines
EM’s look at local economies and sustainable biz
LIQUID OVER LIQUID: Pax World Funds, home to the United States’ first socially and environmentally responsible mutual fund, recently announced today that it “had no choice but to divest itself of 375,000 shares of Starbucks Coffee Company” worth an estimated $23.4 million. The reason was the Seattle-based caffeinated giant’s decision to enter into a development and distribution deal with whiskey maker Jim Beam to sell a coffee-based alcoholic beverage.
Pax applauded the company’s strong track record on the environment, sustainable business practices, efforts to promote Fair Trade coffee, commitment to its employees and charitable giving. But the letter also notes: “We are deeply concerned, however, by the company’s decision to partner with Jim Beam Brands to produce coffee liqueur. Investors in Pax World Funds expect us to do what we say we will do about avoiding companies that produce liquor.”
GO ECO: If you love traveling and you love our planet, check out the newly enhanced www.sustainabletravel.com. You will find a program and features to help you plan an eco-minded trip and/or offset the global warming effect of your air travel.
COSTCO ON TRIAL: Members of Seattle Rainforest Action Group (SeaRAG) held a mock trial in April in front of Costco national headquarters in Issaquah to call attention to the company’s role as seller of products from logging behemoth Weyerhaeuser. The street theater production, complete with costumes, was part of a month-long effort to raise awareness of Weyerhaeuser’s destructive forestry in Pacific Northwest communities before Costco’s annual meeting. Let’s not lose any momentum from SeaRAG’s work; visit www.wakeupweyco.com for more info.
LOCAL ECONOMIES COURSE: Whidbey Institute, in association with Schumacher College (see “Walking the Walk,” EM, Jan. ’05), presents a residential course, “Exploring Local Living Economies and Community-based Business,” July 17-24 at its picturesque Whidbey Island campus. Local ownership, self-reliance, sustainability, entrepreneurship, green investing/purchasing and economic justice will be covered by instructor Michael Shuman, author of “Going Local: Creating Self-Reliant Communities in a Global Age” and a founding board member of BALLE (Business Alliance for Local Living Economies). Visit www.whidbeyinstitute.org or call 360-341-1884 for more info.
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