E.5(b) ECWW Carbon Footprint Report

The Board of Directors of the Diocese of Olympia, Inc., recognizes its fiduciary responsibility to shareholders in the James F. Hodges Diocesan Investment Fund (DIF) to be a shareholder advocate of positive investment by the DIF in renewable energies.  As a result, the Board agreed to commission a study of the carbon footprint of DIF investments, and the results of that study are attached in an executive, annotated report.