26 July 2006

Coca-Cola Dropped from Socially Responsible Investment Fund

July 18 (Reuters) - Coca-Cola Co. has been ejected from the $8 billion TIAA-CREF Social Choice Account, a fund which invests according to social criteria, officials of the pension fund said on Tuesday.

[analysts] saw shortcomings on the part of Coca-Cola in several areas including worker rights at overseas bottling plants, marketing of soda products to children, and environmental issues related to water usage at overseas facilities...

In May, TIAA-CREF formed a new Social and Community Investing Department within its Asset Management area.



Michelle said...

Good for TIAA-CREF. I hope their action has a real cost to Coca Cola.

Jacqueline Henretta said...

As a Coca-Cola enthusiast, I would hope that their standards would be better. But as usual the big corporations keep letting us down, even when they get a chance to do something worthwhile.