RE: A New Way To Bash Nuclear Power (Reply from the mutual fund)

["Abelquist, Eric" <AbelquiE@orau.gov>]

Here's the stated reasons for the mutual fund not including nuclear power
plants.  

This is Joan Lindo's (Calvert Group)reply:

"Good Afternoon,

Calvert does not invest in nuclear power plant operators, owners, or
contractors because we are concerned that nuclear energy is neither
environmentally nor economically viable using current technology.  Nuclear
electric plants are some of the highest-cost generating plants in the United
States, and many are considered stranded assets--assets whose costs cannot
be recovered is electricity restructuring affords competition.  Moreover,
real solutions to radioactive waste disposal are still elusive, and the
volume of radioactive waste is still growing, totaling approximately 150,000
tons in the late 1990s.  This waste poses problems for the environment as
well as for nuclear non-proliferation; both problems will last for many
generations.  We are also aware that other sources of electricity pose
problems.  As is the case with any company we invest in, we thoroughly
analyze power producers for their environmental compliance and impact,safety
and health concerns, labor practices, and human rights records.  Many fossil
fuel electricity producters do not meet our criteria for these reasons.  The
utility companies and electric generators in our portfolios all have
above-average records on these dimensions.
  Thank you for your inquiry."

Any problems with the technical basis presented?

Regards
Eric Abelquist
abelquie@orau.gov

-----Original Message-----
From: Gerald.P.Lahti@ucm.com [mailto:Gerald.P.Lahti@ucm.com]
Sent: Thursday, March 30, 2000 11:48 AM
To: Multiple recipients of list
Subject: A New Way To Bash Nuclear Power


The following appeared in the Chicago Tribune, March 29, 2000, "Your Money"
section (page 5).  The syndicated column, "Mutual Funds" written by Charles
A. Jaffe of the Boston Globe [jaffe@globe.com). discussed the Vanguard
Calvert Social Index Fund.  

Funds such as this buy only stocks that revolve "around the basic belief
that it is possible to 'do well' while 'doing good' .  To make that happen,
social investors weed out companies that act in ways that are not consistent
with their individual beliefs.  Social screens cover everything from
environmental and societal concerns to personal or religious preferences.
So, for example, Calvert's index (and in turn Vanguard's new fund) will
avoid stocks tied to alcohol, tobacco, gambling and nuclear power..."

Interesting grouping!!  Enough said.

* * * * * * * * * * * * * * * * * *
Jerry Lahti
Radiological Safety Specialist
ComEd - Downers Grove
(630) 663-6659
gerald.p.lahti@ucm.com
* * * * * * * * * * * * * * * * * * 

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