Moral Money: Investments for social activists

Investments for social activists

In the 1978 movie Heaven Can Wait, Warren Beatty played an angelic corporate kingpin who proposes that his firm, Exo-Grey, shut down a profitable refinery because it might pollute the local environment. This was not just common sense, the Beatty character told his astonished board of directors, but good business as well, for the firm would profit from a dazzling image of social responsibility. While not all real-life businessmen would agree with that kind of thinking, it has spawned success for a small but rapidly growing group of socially conscious investment funds. About half a dozen of these mutual funds %...

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