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Pennsylvania to Become First State to Include Fossil Fuel in RPS

The Pennsylvania legislature is poised to pass the nation's first renewable portfolio standard (RPS) that would include electricity generated by fossil fuels including coal waste. Gov. Edward Rendell (D) heartily supports using coal waste as a fuel and is unlikely to sign such a measure unless the fuel is included, sources say. Despite the controversy over the move, the only outstanding question appears to be whether coal waste would be considered a "renewable" energy source or if it would be defined as an "advanced" energy source. The plan to promote the use of coal waste-fueled electricity has attracted the opposition of some environmental groups in the state who say there is no data to show that burning coal waste helps the state's environment, adding it could actually make things worse. But the governor and other supporters of the plan say the 8,500 acres of coal waste is the state's biggest environmental problem, because the waste leaches acid and metals into surface and groundwater, contaminating some 2,400 miles of streams and rivers. Additionally, the piles can catch fire and burn for decades, emitting uncontrolled tons of pollutants into the air. Rendell and Pennsylvania Department of Environmental Protection (DEP) Secretary Kathleen McGinty […]

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Hawkin's New Website Provides Investors With Insight Into SRI Mutual Funds

Paul Hawken's new website, www.responsibleinvesting.org, Allows Investors to View Complete Equity Holdings of SRI Funds Worldwide A new website provides a comprehensive view of the equity holdings of socially responsible investment ("SRI") mutual funds in North America and worldwide. Sponsored by the nonprofit Natural Capital Institute (NCI), it is intended to be an easy-to-use research tool for investors who want to know more about which companies SRI funds are holding. Visitors can peruse equity holdings, SRI screens and performance data of mutual funds around the world that use non-financial screening criteria in their portfolio selection process. The database is based on the recent report analyzing the SRI industry, "Socially Responsible Investing: How the SRI Industry Has Failed to Respond to People Who Want to Invest With Conscience and What Can Be Done to Change It." The report includes recommendations to help the industry improve its transparency and social responsibility, and is available at the website. Hawkin hopes to push the industry forward by developing common standards. Says Hawken, "Investors are unable to determine how and why particular companies are included in portfolios. The fund companies don't have to tell their investors what their standards are, or how they apply them. […]

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