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Valdez Principles

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BUSINESS
September 8, 1989 | From United Press International
The Valdez principles, to be used by investors as a measure of a corporation's commitment to safeguarding the environment, were announced Thursday by an environmental and social coalition. The Coalition for Environmentally Responsible Economies, or CERES, said the 10 principles would be immediately circulated among major U.S. corporations for signatories. CERES said it would monitor the adherence to the principles by corporations, whether they are signatories or not, and make public the results.
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BUSINESS
February 10, 1993 | From Times Staff and Wire Reports
First Fortune 500 Firm Signs Environmental Pledge: Sun Co., the Philadelphia-based energy conglomerate, will announce today that it endorses the Ceres Principles, formerly the Valdez Principles. The pledge--promoted by the Coalition for Environmentally Responsible Economies, an environmental group--was written in response to the 1989 Exxon Valdez oil spill.
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BUSINESS
February 10, 1993 | From Times Staff and Wire Reports
First Fortune 500 Firm Signs Environmental Pledge: Sun Co., the Philadelphia-based energy conglomerate, will announce today that it endorses the Ceres Principles, formerly the Valdez Principles. The pledge--promoted by the Coalition for Environmentally Responsible Economies, an environmental group--was written in response to the 1989 Exxon Valdez oil spill.
BUSINESS
February 28, 1990 | From United Press International
A state resolution proposed on Tuesday asks businesses to adopt an environmental code of conduct if they want California's two biggest pension funds to invest in them. The Public Employees Retirement System and State Teachers Retirement System would be asked to consider companies' ecological track records before investing money in them, under the resolution introduced by state Sen. Gary K. Hart (D-Santa Barbara) and sponsored by Democratic Controller Gray Davis.
BUSINESS
February 28, 1990 | From United Press International
A state resolution proposed on Tuesday asks businesses to adopt an environmental code of conduct if they want California's two biggest pension funds to invest in them. The Public Employees Retirement System and State Teachers Retirement System would be asked to consider companies' ecological track records before investing money in them, under the resolution introduced by state Sen. Gary K. Hart (D-Santa Barbara) and sponsored by Democratic Controller Gray Davis.
BUSINESS
April 16, 1990 | RICK GLADSTONE, ASSOCIATED PRESS
A record 300 shareholder resolutions on social concerns ranging from South African divestment to teen-age smoking were filed this year for votes at annual meetings, 40% more than last year. But the fastest growth came in resolutions urging more corporate sensitivity to the environment.
CALIFORNIA | LOCAL
March 29, 1990 | GRAY DAVIS, Gray Davis is state controller.
Even though the cost of cleaning up the Exxon Valdez spill exceeds $2.3 billion--and counting--there are disturbing signs that Exxon has yet to grasp fully the importance of improving its environmental record. Sadly for Exxon investors, the company's stock price is lagging about 25% behind its competitors. This has important consequences for California. The State Teachers Retirement System, with about 453,000 beneficiaries, owns 7 million common shares of Exxon.
BUSINESS
February 4, 1994 | MICHAEL PARRISH, TIMES STAFF WRITER
The Ceres Principles, a business code of conduct long advocated by environmentalists, may be revived from obscurity thanks to a surprise agreement with General Motors Corp., the world's largest industrial corporation.
NEWS
April 25, 1991 | MAURA DOLAN and PATRICK LEE, TIMES STAFF WRITERS
A federal judge in Alaska on Wednesday rejected part of a $1-billion agreement to settle government claims arising from the Exxon Valdez oil spill, declaring that a negotiated criminal fine against the oil company was not large enough. U.S. District Judge H. Russel Holland, in a decision that stunned parties to the settlement, threw out a $100-million criminal fine agreed to in a plea-bargain by Exxon Corp. and government attorneys. The fine would have been the largest ever paid for polluting.
MAGAZINE
December 24, 1989 | JACK JONES, Jack Jones retired in 1989 after 34 years as a Times staff writer. His last story for this magazine was "Tales From the Freeway."
THE WORLD CHANGED SO DRAMATICALLY in the 1980s, particularly in the past few months, that at times one felt nostalgic about last week. The 1980s saw the collapse of communism in Eastern Europe; the diagnosis of a deadly disease--AIDS--that has escalated into a worldwide epidemic, and the ascendancy of American conservatism. Indeed, so much changed so rapidly in the waning years of the decade that the prospect of contemplating more U-turns in the 1990s makes one a bit lightheaded.
BUSINESS
September 8, 1989 | From United Press International
The Valdez principles, to be used by investors as a measure of a corporation's commitment to safeguarding the environment, were announced Thursday by an environmental and social coalition. The Coalition for Environmentally Responsible Economies, or CERES, said the 10 principles would be immediately circulated among major U.S. corporations for signatories. CERES said it would monitor the adherence to the principles by corporations, whether they are signatories or not, and make public the results.
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