1. International Corporate Social Responsibility (ICSR) Task Team April 26, 2001 Stephen Raab, WEC Board of Directors & ICSR Task Team Chairman

2. Corporate Social Responsibility - Framework for a Corporation’s Ethical Behavior No single, commonly accepted definition of Corporate Social Responsibility (“CSR”) Links business decision-making to ethical values, compliance with legal requirements, respect for people, communities and the environment Operate in a manner that meets or exceeds the ethical, legal, commercial, and public expectations a society places on a business - goes beyond marketing and public relations Comprehensive set of policies, practices and programs integrated throughout business operations and decision-making processes

3. ICSR Task Team Accomplishments WEC/IEF identified need to focus on Sustainable Development and Corporate Social Responsibility (“CSR”) International Corporate Social Responsibility (“ICSR”) Task Team formed in April 2000 - Task Team #1 and Task Team #2 underway ICSR Task Team includes senior corporate representation from 18 multi-nationals as well as representatives from the Auditing Roundtable ICSR Task Team provided participants with forum to discuss and refine understanding of CSR

4. ICSR Task Team Accomplishments (continued) ICSR Task Team produced a comprehensive comparative matrix on CSR principles of key organizations WEC Board Level ICSR Committee formed in December 2000 ICSR has benefited from participation by TotalFinaElf, Ashland, Lafarge, Merrill Lynch, GM, Salomon Smith Barney, Amerada Hess, Texas Instruments, Texaco, Pfizer, Dow Corning, IBM, United Technologies, Occidental, InterGen, Bristol-Myers Squibb, Rohm & Haas, Novartis, Innovest and the Auditing Roundtable

5. ICSR CY 2001 Action Items ICSR Task Team developing voluntary self- verification process for members Self-verification process can be adapted to all sectors including manufacturing, energy, financial sector and pharmaceuticals ICSR program and verification process shared at April 26 - 27, 2001 IEF Forum “Rising Expectations: Taking Stock of the Global Sustainability Evolution” April 26, 2001 Forum will dedicate entire day to “Verifying Corporate Social Responsibility”

6. ICSR and the WEC/IEF ICSR effort allows the WEC/IEF to remain on the leading edge of challenges that face multinational corporations ICSR activities have the potential to save WEC/IEF member companies time and money related to development of CSR management mechanisms and systems WEC provides peer support and expertise though meetings, seminars, resources (website, documents, and CD ROMS) WEC can coordinate pilot studies to help companies evaluate and adapt CSR policies and reporting mechanisms into their operations