At the request from a broker friend of mine at Legg Mason I attended a presentation on socially responsible investing or SRI. I told my friend that I always considered this to be a program better geared to liberals and not conservatives like me. I was not disappointed. The crowd was intimate but mostly attended by liberal leaning organizations.
The investment official from the Calvert Group was very friendly and obviously loved her job of socially screening stocks for their investment portfolios. One thing I did find interesting is that the Calvert Group is now going to evaluate corporate donations. Considering that most major corporations generously fund liberal causes I am not sure what the purpose of this analysis is. Is it to go after a company that gives to conservative groups, particularly environmental groups or to get them to contribute more to the liberals?
Based on what I heard there is no doubt that SRI is being used as a weapon by the left on corporations to toe the line or face their wrath. With the cooperation of the liberal media is a threat that can’t be ignored.
For more on corporate donations visit the Capital Research Center which has produced the most comprehensive study on this issue.