Introduced in September 1989 by the Coalition for Environmentally Responsible Economies (CERES), which includes the New York City comptroller, Elizabeth Holtzman, and the California state controller, Gray Davis, as well as the Audubon Society and the Sierra Club, the Valdez Principles
consist of 10 principles that a signing corporation agrees to uphold.
It is the lever behind SRI's greatest successes, such as enlisting companies to adopt the socially responsible Valdez principles
or divesting much of corporate America from apartheid-era South Africa.
CERES has recently revised the Valdez Principles to eliminate a potential liability provision and has added a disclaimer of legal liability for participating firms that adopt the principles.
Recommendation: Corporations that are currently not participating in a business or industry association that has an environmental, health, and safety code of conduct and voluntary disclosure requirements should consider instituting a code in their association, joining an association that has one, or signing onto the CERES Valdez Principles or the ICC Charter.
With commitment to the future in mind, CERES developed a set of 10 guiding principles for corporate environmental responsibility which it calls, the Valdez Principles.
Presently, 30 companies are signatories of the Valdez Principles, including Dominos Pizza Distribution, Inc.
The CERES Principles were introduced in 1989 as the Valdez Principles
The Valdez Principles represent a set of ten corporate commitments to environmental protection drafted by the Coalition for Environmentally Responsible Economies (CERES) late in 1989.
Although industry executives have expressed serious reservations about what they see as the intrusiveness of the Valdez Principles, the CERES proposal has caused many companies to reevaluate their existing environmental policies.
A 10-point environmental code known as the Valdez Principles
has once again captured the limelight at many of this year's annual meetings.
Moreover, we declined to subscribe to the Valdez Principles
5% of Exxon shareholders support the Valdez Principles
but Exxon's 1990 proxy statement included five other environmentally related shareholder proposals.