Green For Money or the Environment

Today it is common to hear about ways to save our planet. There are talks going on almost daily about what we need to do as a country and within this world we live in to make it sustainable for future generations. Along with trying to save the planet new information is also coming out on how we can stay and live healthier lives. Putting these together you have another way to make a contribution. It is through Socially Responsible Investing (SRI) or investing in Environmental, Socially conscious/social awareness and governance principles (ESG)Wikipedia’s definition of Socially Responsible Investing also known as sustainable, socially conscious, “green” or ethical investing, is any investment strategy which seeks to consider both financial return and social/environmental good to bring about social change regarded as positive by proponents.An example of an ethical practice might be the use of green technology, such as solar panels, for power in the factories wherea company manufactures their product. A socially responsible fund for instance, may avoid investing in specific areas such as tobacco or firearms.The question you then have to ask yourself is making a profit or doing the right thing more important? Howdo you know if what you are investing in is really socially responsible? Some companies say they are but really aren’t. What are you giving upwhen you consider ethical investing? For years a lot of socially responsible and ethical funds were not profitable. Although wonderful in theory it is not as easy to choose because of the subjective nature of what is ethical or socially responsible. Therefore a lot of due diligence needs to be made in order to find the proper and best suited ethical and socially responsible funds. We have come along way but there is still a lot of work to be done in this area in order to have both a profit and be socially responsible.Talk to your advisor if you would like to allocate a portion of your portfolio to ethical and socially responsible funds. You don’t want to jeopardize your future and your retirement without knowing exactly what’s right for you.