Green Mutual Funds Providers
Posted by A. Caleb Hartley on March 11th, 2008 filed in investingLast SRI post we discussed the two main options for Socially Responsible Investing: screening stocks and “activist” investing.
Since activist investing is such a broad concept that any company can be chosen (there’s always room for improvement, no matter how green a company already is – or isn’t), and since activist investing is best accomplished on an individual-stock basis, we will discuss some screened stock options today.
Calvert Socially Responsible Mutual Funds: Calvert states that they “manage [their] mutual funds with Double Diligence.” This means, they say, that they find stocks that not only have strong potential for growth, but also that they avoid those stocks whose companies are at risk due to unethical business practices. The screens that Calvert uses to select stocks for their socially resposible investing can be found by clicking here.
Green Century Funds: Founded in 1991 by non-profit environmental advocacy organizations, GCF is wholly owned by non-profit advocacy groups. This company focuses specifically on environmentally responsible investing – meaning they follow these three principles (from their website):
- provide two mutual funds for those who wish to align their investments with their environmental values;
- use shareholder advocacy to seek to place direct pressure on corporations to change their practices to protect the environment;
- dedicate GCCM’s profits to advocacy organizations who work for public policies that help create a sustainable economy.
GCF, in other words, combines screened stocks with a little activist investing on behalf of their investors – these guys pack a one-two punch! If your interests align less with the environment, however, and more with social activism (like poverty, protecting women’s rights, etc.), GCF may not be for you.
Portfolio 21: This is a mutual fund that invests specifically in corporations that design “ecologically superior products,” use renewable energy, and consistently improve their production efforts so that they reduce environmental impact. Ticker = PORTX
Parnassus Investments: Parnassus’ s philosophy is that “companies with ethical business practices make for good long-term investments.”
Pax World Funds: Companies are screened for fair employment practices, corporate citizenship, and environmental responsibility. They offer a balanced fund, a growth fund, a high-yield fund, and a money market fund. (full disclosure: I invest in Pax World funds)
Domini Social Investments: Domini invests in companies based on where they stand on issues such as global warming, sweatshop labor, product safety, and more.
There are many, many more options when it comes to socially- and environmentally-screened stocks and mutual funds. A great resource for information is the Social Investment Forum Website. Additionally, Co-op America has an extensive SRI section in their National Green Pages, which is where much of the above information was gathered. I encourage you to jon Co-op America if you are interested in living green!
Namaste,
A. Caleb Hartley
Do you invest in socially- or environmentally-screened stocks or mutual funds? After reading the last few posts about SRI, will you in the future? Tell us!
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13 Responses to “Green Mutual Funds Providers”
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March 13th, 2008 at 9:58 am
Caleb,
I invest in a mutual fund called New Alternatives Fund. They invest in renewable energy technology, recycling, organics, and all things green. Last year it got @33% RETURN. Just adding to your list!
I’d like to talk to you about blogging. We’ve been blogging for about the same amount of time and maybe we can help each other out. you have my email. thx.
March 14th, 2008 at 8:49 pm
I like the idea of “activist investing”. I want to know more about it. Thanks.
March 17th, 2008 at 9:18 pm
Rather than buy Mutual Funds that charge Management Fees, I’d just buy solar company Stocks… like First Solar and Sun Power. These stocks rose quite a bit last year but with the recent sell-off will be good value stocks by the fall.
March 24th, 2008 at 1:49 pm
i like it
April 10th, 2008 at 7:35 pm
I, too, like this concept of using my investments to speak out. Great post!
July 3rd, 2008 at 9:34 am
Great list of investments. There are a few new etfs that invest in the major players of the wind and solar energy. I know First Trust has a Winder Energy index fund and Claymore/MAC has a Solar energy fund. Both of these funds just started and seem to be pretty promising.
July 24th, 2008 at 7:01 pm
Solar Energy fund, now I like the sound of that
August 1st, 2008 at 6:42 am
[...] I will try investing in FAN and see how it turns out. I found a great article with further green mutual funds and ETFs. Good luck investing and hopefully you will be able to incorporate green stocks in your portfolio. [...]
September 6th, 2008 at 3:27 pm
Great information, what a great way to help the environment and (hopefully) make some money at the same time.
OrganicallyTvs last blog post..A humorous and eye opening short film about plastic bags
October 30th, 2008 at 12:11 pm
Yes, I had some investments that I pulled out of the market before the big crash, and I vowed to re-invest after the election only in socially responsible funds (and a little gold for security, family gifts, international exchange, and peace of mind). These references are good. I am working with Edward Jones, so am restricted to funds that allow agents, like Calvert I know is one. But hopefully there are others, and I can go outside EJ also.
My view is that the economic crisis should be a big message to us that greed is not the answer. I liked Paul Newman’s example and it is meaningful that he died leaving us an example of ethical business only two days before the crash. What needs to take place is a massive wave toward ethical practice and long-term quality in products. We have to move away from the consume and throw away culture, live reasonably, and look to true value rather than just making numbers increase.
Nobody – I’ll say that again, nobody knows what the market will do tomorrow. It is a complex system. But you can guage risk levels and you can determine what YOU consider valuable in life and in the world. Then, whether the value increases or decreases, you have something to feel good about. Paul Newman used a for-profit corporate model to donate 100% of profits to charity, and it not only worked, the company thrived. He gave us a new ethical model. Not only did he give more to charity than a non-profit would, because he could tap profits from a larger group of customers than an organization dedicated for only that one charitable purpose, but he created a great work environment that his daughter, who founded Newman’s Own Organics division, will continue; AND their responsible mission of charity MUST feed back to wanting quality in the product itself; AND aside from all that, many people who just wanted salad dressing and spaghetti sauce, years later, discovered the joy of the fact that THEY were giving to these charities — so he even gave the give of giving!! What an example for Wall Street! A Win-win-win-win. So it is possible and it does work. This is the world we are heading for, with the help of socially responsible people who put their money where their heart is.
Cheers,
Dr. John J. Kineman
April 2nd, 2009 at 2:08 pm
Great article. I spent many years working in corporate accounting and then in the mortgage industry. After seeing so much greed and waste it’s good to see so many people interested in socially responsible investing.
May 5th, 2009 at 3:54 pm
Thanks it is hard finding funds that invest in green companies. I would rather invest in fund than single companies that way the risk is not so bad.
June 1st, 2009 at 10:53 pm
I just saw a article about some new etfs that are green companies. I think they are solar and wind companies so that could be another way to invest.