EARTH DAY 1990: VALDEZ PRINCIPLES - STATEMENT OF INTENT
With these Principles, The Coalition for Environmentally Responsible Economies, (CERES project of the Social Investment Forum), sets forth broad standards for evaluating activities by corporations that directly or indirectly impact the Earth's biosphere. The CERES Project has created the Valdez Principles to help investors make informed decisions around environmental issues. As representatives of the investment and environmental communities we are asking corporations to join with us by subscribing to these Principles.
Recognizing the complexity of the issues contained in these broad Principles, CERES has attempted to define the Principles as a long-term process rather than a static statement. CERES members hope that signatory companies will work with us on the elaboration of the specific requirements of the Principles. Our intent is to create a voluntary mechanism of corporate self- governance that will maintain business practices consistent with the goals of sustaining our fragile environment for future generations, within a culture that respects all life and honors its interdependence.
We ask for a long term commitment to the process of compliance with these Principles, and an additional commitment of assistance and cooperation in the further development of specific standards derived of these general principles.
VALDEZ PRINCIPLES - INTRODUCTION
By adopting these principles, we publicly affirm our belief that corporations and their shareholders have a direct responsibility for the environment. We believe that corporations must conduct their business as responsible stewards of the environment and seek profits only in a manner that leaves the Earth healthy and safe. We believe that corporations must not compromise the ability of future generations to sustain their needs.
We recognize this to be a long term commitment to update our practices continually in light of advances in technology and new understandings in health and environmental science. We intend to make consistent, measurable progress in implementing these principles and to apply them wherever we operate throughout the world.
1. PROTECTION OF THE BIOSPHERE
We will minimize and strive to eliminate the release of any pollutant that may cause environmental damage to the air, water, or earth or its inhabitants. We will safeguard habitats in rivers, lakes, wetlands, coastal zones and oceans and will minimize contributing to global warming, depletion of the ozone layer, acid rain or smog.
2. SUSTAINABLE USE OF NATURAL RESOURCES
We will make sustainable use of renewable natural resources, such as water, soils and forests. We will conserve nonrenewable natural resources through efficient use and careful planning. We will protect wildlife habitat, open spaces and wilderness, while preserving biodiversity.
3. REDUCTION AND DISPOSAL OF WASTE
We will minimize the creation of waste, especially hazardous waste, and wherever possible recycle materials. We will dispose of all wastes through safe and responsible methods.
4. WISE USE OF ENERGY
We will make every effort to use environmentally safe and sustainable energy sources to meet our needs. We will invest in improved energy efficiency and conservation in our operations. We will maximize the energy efficiency of products we produce or sell.
5. RISK REDUCTION
We will minimize the environmental, health and safety risks to our employees and the communities in which we operate by employing safe technologies and operating procedures and by being constantly prepared for emergencies.
6. MARKETING OF SAFE PRODUCTS AND SERVICES
We will sell products or services that minimize adverse environmental impacts and that are safe as consumers commonly use them. We will inform consumers of the environmental impacts of our products or services.
7. DAMAGE COMPENSATION
We will take responsibility for any harm we cause to the environment by making every effort to fully restore the environment and to compensate those persons who are adversely affected.
8. DISCLOSURE
We will disclose to our employees and to the public incidents relating to our operations that cause environmental harm or pose health or safety hazards. We will disclose potential environmental, health or safety hazards posed by our operations, and we will not take any action against employees who report any condition that creates a danger to the environment or poses health and safety hazards.
9. ENVIRONMENTAL DIRECTORS AND MANAGERS
At least one member of the Board of Directors will be a person qualified to represent environmental interests. We will commit management resources to implement these Principles, including the funding of an office of vice president for environmental affairs or an equivalent executive position, reporting directly to the CEO, to monitor and report upon our implementation efforts.
10. ASSESSMENT AND ANNUAL AUDIT
We will conduct and make public an annual self-evaluation of our progress in implementing these Principles and in complying with all applicable laws and regulations throughout our worldwide operations. We will work toward the timely creation of independent environmental audit procedures which we will complete annually and make available to the public. ***
