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A column written for the East County Magazine“Your guide to financial planning & socially responsible investing”
By: Judith L. Seid, CFP ®
President, Blue Summit Wealth Management
November 4, 2011 (La Mesa) -- Last week, I attended the “No Fracking Way” fundraiser for non-profit shareholder advocacy organization “As You Sow” Foundation. http://asyousow.org/ .
Since 1992, As You Sow Foundation has used shareholder advocacy and the financial markets to catalyze positive change within publicly held companies. The event was held at a loft overlooking Venice Beach, CA where attendees were joined by Josh Fox, the director and producer of the movie “Gasland” via Skype projected onto the wall. http://www.gaslandthemovie.com/ Now that was sooo Hollywood!
Hydraulic fracturing or fracking is a means of natural gas extraction employed in deep natural gas well drilling. Once a well is drilled, millions of gallons of water, sand and proprietary chemicals are injected, under high pressure, into a well. The pressure fractures the shale and props open fissures that enable natural gas to flow more freely out of the well.
Josh discussed the fact that hydraulic fracking is inadequately regulated due to a loophole known as the “Halliburton Loophole” in the '05 Energy Bill that exempts gas drillers from EPA guidelines like the Clean Water Act. http://www.earthworksaction.org/halliburton.cfm
Josh emphasized that fracking impacts our environmental safety by emitting Nitrogen Oxide & volatile organic compounds as surface smog, expending enormous amounts of H2O, injecting chemicals into the earth’s crust to frack the wells, and polluting the nearby groundwater, among other harmful consequences.
In addition we learned about the newest project by “As You sow”, their Responsible Sourcing Networkaddressing human rights violations and environmental destruction in the supply chains of consumer products and at the raw commodity level. The Network allows for a collaborative structure for companies, investors, and non-governmental organizations to reduce environmental degradation and human rights abuses, while seeking to spur responsible economic development for the least advantaged people.
We also learned about The Responsible Sourcing Network (RSN), the newest project of As You Sow. RSN addresses human rights violations and environmental destruction in the supply chains of consumer products and at the raw commodity level. RSN provides a constructive space and collaborative structure for companies, investors, non-governmental organizations, and other stakeholders to share best practices and take coordinated action. RSN supports network participants in leveraging their influence to achieve significant and measurable reductions in environmental degradation and human rights abuses, while seeking to spur responsible economic development and moving companies towards greater environmental sustainability and social equity. http://www.sourcingnetwork.org/
Blue Summit Wealth Management works in cooperation with As You Sow to help our investor portfolios have a greater positive impact in creating a better tomorrow.
For more information on Financial Planning & Sustainable Investing, contact Judith at
Blue Summit Wealth Management in La Mesa, (619) 698-4330; www.BLUESUMMITWEALTH.com
Securities offered through Pacific West Securities, Inc. (Pacific West) Member FINRA/SIPC. Advisory services provided through Pacific West Financial Consultants, Inc. and Blue Summit Wealth Management, Inc. (Blue Summit), Registered Investment Advisors. Blue Summit and Pacific West are not affiliated.
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