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![]() You won't find any "booze, butts or bets" in her portfolios. And if she buys a stock, she'll use shareholder power to force the company to respect its workers and protect the environment |
How Green Is Your Money? By MARGOT ROOSEVELT Amy Domini is a capitalist tool from a different mold. "Making money," says the mutual-fund mogul, "is different from stealing money." Companies that manufacture cigarettes, pollute rivers or sell sweatshop goods are robbing from the public welfare, as she sees it. Capital is the tool Domini uses to knock them over the head.
A Boston University grad who started as a photocopy clerk at a brokerage, Domini, 50, manages $1.17 billion in private portfolios as well as her $1.89 billion Domini Social Equity Funds, the oldest and biggest socially and environmentally screened index funds in the U.S. Domini does not just exclude "booze, butts and bets"alcohol, tobacco and gambling stocks. She also files shareholder resolutions and haggles with Walt Disney for better working conditions overseas or with Coca-Cola for more recycling. "Global companies are more powerful than governments," she says. "The way we invest creates the world we live in."
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PHOTOS: Amy Domini by STEVE LISS FOR TIME, Peter Freudenthal Photo Courtesy of meVC, Jean-Pierre Gloton by SERGE PICARD/VU, Richmond McCoy by JONATHAN SAUNDERS FOR TIME, David Pullman by MICHAEL GRECCO FOR TIME, Gerald Putnam photo illustration by AARON GOODMAN FOR TIME |
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