Company Examples

At Pax World, we fully integrate environmental, social and governance (ESG) factors into investment analysis and portfolio construction. Here are a few Pax Core Bond Fund fixed income securities that we believe are promoting positive community or environmental outcomes:

State of California Green Bonds
These bonds finance environmentally beneficial projects addressing: air pollution reduction; clean water and drinking water; energy efficiency and conservation projects in public buildings; protection of beaches, bays and coastal waterways; flood prevention; and climate change reduction.

Envest Microfinance
Envest Microfinance supports microfinance entrepreneurs in developing countries, such as Nicaragua, Kyrgyzstan, Peru, and Tajikistan. The organization targets the world’s economically marginalized populations by lending primarily to small microfinance institutions with assets under $20 million. Loans made by Envest range from $100,000 to $500,000.

Campbell Soup Company
In response to growing consumer interest in health, wellbeing and ingredient transparency, Campbell Soup has expanded its healthy product portfolio and worked to reduce nutrients or ingredients of concern in its products. The company has also launched a website dedicated to informing consumers about the ingredients that are used in the company’s products. Campbell Soup has also set goals to reduce its environmental impact (water, energy and emissions) by 2020 and has made progress by reducing its water use (23.8% reduction), energy use (9.2% reduction) and GHG emissions (23.4% reduction) per tonne of food produced since 2008.

Pax Core Bond Fund Top Ten Holdings as of 05/31/2017:
United States Treasury Note, 2.375%, 08/15/24 5.80; United States Treasury Note, 1.875%, 4/30/22 5.40; United States Treasury Note, 2.250%, 2/15/27 3.20; United States Treasury Note, 3.125%, 08/15/44 2.30; United States Treasury Note, 2.125%, 11/30/23 2.20; United States Treasury Note, 1.375%, 1/15/20 1.70; United States Treasury Note, 4.500%, 02/15/36 1.70; United States Treasury Note, 2.125%, 09/30/21 1.50; United States Treasury Note, 2.125%, 3/31/24 1.50; United States Treasury Note, 0.375%, 1/15/27 1.00;