Washington State Tailors 'Social Purpose Corporation' to Sustainable BusinessBy
Bruce Herbert knows better than most how pressure from shareholders can influence a company’s behavior. As chief executive of Newground Social Investment, a three-employee Seattle investment adviser with $65 million under management, he’s spent the last 18 years pushing the corporations in his portfolio to do the right thing for the environment and local communities. Among his victories: persuading DuPont to drop a plan to strip-mine land next to the Okefenokee National Wildlife Refuge in the 1990s and, more recently, getting McDonald’s to cut pesticide use by farmers growing its potatoes.
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