
Philosophy
Since relatively few companies fail our screens, one might wonder just how
comprehensive and thorough our screens are. Though we
believe we have anticipated ways an investors
money might contribute to each issue we screen,
an explanation of how we have arrived at our screen
definitions is in order.
Our credibility relies on our consistency in all screens
such that the convictions of each individual Values-Based
Investor ("VBI") are accommodated equally. We
acknowledge that the issues we screen will have
different relevance from investor to investor. Our task
is to ensure that when an individual considers our
information with respect to his or her convictions, the
credibility of our information from screen to screen does
not become an issue.
We believe that the less ambiguity in our screens, the
better. A prime example of a potentially problematic
"grey area" is pornography. In defining what constitutes a
pornography screen violation, we had to define pornography.
The problem arrives when something someone considers
to be pornographic does not become identified. Are the
sexually-explicit programs airing on prime-time television pornographic? Many people think so, but many others
do not. If we were to define our pornography screen
broadly enough for the former, our credibility would
likely suffer with the latter. Calling anything that
is offensive "pornography" reduces the meaning
of the word.
This is a good example to illustrate the importance
of defining our screens. In the case presented above, we
screen out the companies guilty of producing the
"grey area" material as failing our "Anti-Family
Entertainment"
screen. This screen is not simply a
"receptacle" for producers of offensive, but
not quite pornographic, material. It is a legitimate
screen of its own with its own definition. These examples found a home within the
other screen, thereby closing the gap. The bottom line is
that when a company fails our pornography screen, there
is nothing left to interpretation the material in
question is unquestionably pornographic.
Likewise, abortion screening requires precision. Other
organizations rely on outside sources for their
definitions & simply refer their definition to that
source: "An abortifacient is an agent that causes or
produces an abortion according to So-And-Sos
Medical and Nursing Dictionary."
We put the definition of what we consider to be an
abortifacient where it counts right up front:
"An abortifacient is a chemical agent which
terminates a pregnancy. By this, the agents action
affecting the pregnancy occurs after conception."
Therefore, the former approach to the definition places
responsibility elsewhere. If some overlooked
"agent" were truly abortifacient, its the
fault of "So-and-So." We are confident enough
in our research to stand behind it.
Similarly, we screen out abortion offenders in ways
others do not, including fetal tissue research. There are those who would deem a portfolio
absent of abortion involvement while actually owning companies
in either health maintenance organizations or insurance
providers that cover elective abortions as part of
the "health plans" they offer. Hospital companies
that actually perform abortions in their facilities may also
slip through their screens. We find this wholly
unacceptable and our screening criteria reflects it.
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