Five Eco-Friendly Funds
So what can you do to help make the world greener? Why not check out mutual funds that specialize in eco-friendly investing. The sector has grown rapidly in the last few years. According to Michael Herbst, an analyst at Morningstar, net assets of the 10 actively managed green mutual funds the firm tracks have increased by 414% over the last three years.
If this kind of approach appeals to you, here are some places to start:
The (PORTX)Portfolio 21 Fund (PORTX). Like traditional socially responsible funds, this one excludes companies in the nuclear energy, tobacco, gambling or weapons industries, as well as companies with poor records in employee relations, human rights, community involvement and product safety.Unlike traditional SRI funds, it selects only companies whose business models meet one or more of these criteria:
- They are designed to succeed under ecological constraints
- They work toward reducing the ecological impacts of their products or services
- They invest in the environment
- They make environmental sustainability a priority
- They have strong environmental management
- They use resources efficiently
- They reduce their greenhouse gas emissions and the risk of toxic spills
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