Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Economic Development and Technology, to which was referred S.C.R. No. 13 entitled:

begs leave to report as follows:

The purpose of this measure is to encourage all persons to participate in the Summit on Double-Bottom Line Investing in Hawaii, 'Aha Ho'opuka Pono, and to apply the principles of socially responsible investment (SRI) in their investment practices and decisions to encourage other investment counselors and money mangers to also apply SRI to their investment portfolios.

Your Committee received testimony in favor of this measure from Kuleana Waiwai Like Project of the Native Hawaiian Advisory Council, the Center for Labor Research and Education, Institute of Industrial Relations, University of California at Berkeley, Responsible Markets, and Domini Social Investments.

Your Committee has amended this measure by adopting the recommendations of Responsible Markets by providing more accurate language, an updated conference date and location and requesting LRB to research SRI.

As affirmed by the record of votes of the members of your Committee on Economic Development and Technology that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 13, as amended herein, and recommends that it be referred to the Committee on Ways and Means in the form attached hereto as S.C.R. No. 13, S.D. 1.