Socially Responsible Investing

HOOPP has an overriding fiduciary duty to Plan beneficiaries to maximize the long-term value of the Fund's investments. By the same token, HOOPP believes that companies adhering to effective social, environmental and ethical standards are likely to be better managed and more successful over the longer term.

With these factors in mind, HOOPP:

• takes into account a company's social, environmental and ethical principles when making investment decisions
• encourages reasonable disclosure of social, environmental and ethical performance when voting proxies
• may question companies where it feels that improved disclosure practices are required to reasonably assess the prospects for long-term shareholder value

In assessing a company's social, environmental and ethical standards, HOOPP is guided by:

• principles embodied in the Organization for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises
• CERES Principles (CERES stands for the Coalition for Environmentally Responsible Economies, a coalition of environmental, investor and advocacy groups that works with companies to achieve environmental improvement)