Socially Responsible Investing: How the SRI industry has failed to respond to people who want to invest with conscience and what can be done to change it
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Millions of people and thousands of institutions want their investments to express social values. And that concern is growing. Public distrust of corporations has increased over the past several years. The deterioration of the environment, exposés of corporate malfeasance, publicity about illicit labor practices (e.g., child slaves producing chocolate), and the general plight of the working poor have galvanized diverse sectors of the population to invest diligently and mindfully. Investors have placed billions of dollars with SRI institutions and funds. SRI funds promise that investors' money will avoid companies that work toward environmental responsibility, proper governance, and social justice.
This report addresses financial management companies offering mutual funds that screen their portfolios against nonfinancial criteria, what is called the socially responsible or the ethical investing community. It examines current portfolio practices, reveals how SRI funds are actually allocated, shows how the industry misleads investors, and recommends how the industry can reform itself in order to respond to investors who want to invest with a conscience and a purpose.
This report addresses financial management companies offering mutual funds that screen their portfolios against nonfinancial criteria, what is called the socially responsible or the ethical investing community. It examines current portfolio practices, reveals how SRI funds are actually allocated, shows how the industry misleads investors, and recommends how the industry can reform itself in order to respond to investors who want to invest with a conscience and a purpose.
