clipped from www.washingtonpost.com

For 'Dharma Indexes,' Firms' Conduct Matters

Dow Jones has launched "dharma indexes" to track the stocks of companies that observe the values of dharma-based religions such as Hinduism and Buddhism.

The Dow Jones Dharma Indexes are the first to measure dharma-compliant stocks and now track more than 3,400 companies globally, including about 1,000 in the United States, according to the company. In addition to the global index, Dow Jones has created dharma indexes for the United States, Britain, Japan and India.

Dharma Investments, a private faith-based Indian firm, partnered with Dow Jones to create the indexes.

Advisory committees of religious leaders and scholars will screen and monitor companies' policies on the environment, corporate governance, labor relations and human rights, among other criteria. Companies from business sectors deemed un-dharmic, such as weapons manufacturing, pharmaceuticals, casinos and alcohol, are barred from the index.