Gabelli SRI Fund avoids investing in Carbon Underground 200 firms

By Lisa Kerner

Charlotte, N.C., May 20 – Gabelli SRI Fund, Inc. updated the “social responsibility criteria” of its July 29, 2014 prospectus.

The fund will not invest in companies included in the Carbon Underground 200 report that identifies the 200 largest fossil fuel (coal, oil and gas) companies based on estimates of the potential CO2 emissions of their reported reserves, according to a filing with the Securities and Exchange Commission.

The report is updated annually.

Gabelli SRI “will not invest in the top 50 defense/weapons contractors or in companies that derive more than 5% of their revenues from the following areas: tobacco, alcohol, gaming, defense/weapons production and companies involved in the manufacture of abortion-related products,” the filing stated.

The fund is managed by Gabelli Funds LLC, which is affiliated with Gamco Investors, Inc., based in Rye, N.Y.

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