by Jack Bradigan Spula (City Newspaper, Rochester, NY, 5/15/2002)

            Eastman Kodak released an environmental self-evaluation at the end of 2001 --- and gave itself high marks. “The progress report… is nothing short of outstanding,” says the evaluation, posted on the company website. One example of the stellar performance: The company says that in 1999 it pledged to reduce emissions of “30 priority chemicals” by 40 percent; at the end of last year, the chemical emissions had been reduced by 42 percent. All in all, the company boasts it’s “reached or exceeded” six of eight “five-year goals” and has made “significant progress” on the other two.

            The Citizens Environmental Coalition has begged to differ, most recently at the company’s May 8 annual meeting here. CEC chastised the company for its continuing emissions from waste incineration at Kodak Park, among other things. The group also stood behind another report card, a shareholder resolution titled “Disclosing Environmental Liabilities to Shareholders.” The resolution contended it’s “imperative that Kodak include in its annual environmental progress report, a listing and identification of known and expected environmental liabilities and cleanup responsibilities that are likely to accrue.” Kodak management urged a no vote on the resolution. And it was “roundly defeated,” says Kodak spokesperson James Blamphin.

            Interestingly, New York Comptroller and gubernatorial hopeful Carl McCall weighed in here with a news release supporting the shareholder resolution. “The disclosure requirement,” McCall said, “will help Kodak shareholders gain a better understanding of underlying challenges facing the company.”

            And in the same vein, a few months back, the Sisters of Mercy of Buffalo unloaded 25,000 shares of Kodak stock to send a message. Sister of Mercy president Sr. Nancy Hoff tells us the order’s investment firm, which screens out socially irresponsible firms, decided Kodak doesn’t belong in the portfolio. “We don’t invest in arms [manufacturers] and we don’t invest in anti-environment companies,” says Hoff. Kodak’s Blamphin says it’s regrettable the Sisters of Mercy acted “on the basis of one-sided information.” In any case, he says, “people buy and sell large blocks of shares all the time.” He says Kodak has established its good record by earning a place on the Dow Jones Sustainability Index.