Environmental Investing: Placing your Finances in our Environment
With the recent appointment of Henry Paulson as Secretary of the Treasury, green investing is at the front of my mind. Henry Paulson is an unusual choice for President George W. Bush, since this multi-millionaire chairman of the investing firm Goldman Sachs happens to be a highly active environmental conservationist.
Paulson's appointment has received some protest from right-wing circles, which certainly gives me encouragement in the appointment. The new secretary is known for his role on the board of directors of the Nature Conservancy, as well as for guiding Goldman Sachs towards a more environmentally responsible investing policy. But enough about Henry Paulson! His millions give him a great deal of flexibility in how to handle his finances - how does the average person manage to invest responsibly?
There are numerous "green" investment companies, who generally tend to invest in renewable energy, organic foods, and, other companies with strong environmental commitments. The specific policies vary widely, and you should always review any investment firm's prospectus closely before deciding to invest.
Here are a few investment companies which may be worth looking at:
- Light Green Advisors
Light Green Advisors (LGA) is based in Seattle, Washington. They manage investments based on Standard & Poors 500™. Their key principle is to select the environmental leader in each industry for investments.
- Progressive Asset Management, Inc.
PAM is a full-service investment brokerage firm specialized in socially responsible investing. The company is comprised of a network of investment consultants. They provide social screening of investments according to your criteria as an investor.
- Rocky Mountain Humane Investing
RMHI customizes your portfolio to match your financial and ethical objectives. They provide two investment management styles with different risk and return objectives. They suggest a minimum investment of $100,000.
Now, investment firms may be beyond the investment capability of many of us. When I see a minimum investment recommendation of $100,000 I pretty much cross that off my list. Many other options do exist - within your community you may be able to support your own community through an account with a credit union or other small financial concern.
For more extensive (and current) information about socially responsible investing, check out the following sites:
Updated by Joe Dolson on 24 August, 2009