Top Five Socially Responsible Investing News Stories of 2007
Anne Moore Odell, socialfunds.com
New alternative energy and green funds fuel expansion of socially responsible investing; climate change is pushed to the forefront; community development organisations flourish despite the subprime mortgage debacle; consumers demand healthy products and work environments; and SEC limits shareholder rights.
In 2007, socially responsible investing gained momentum through the passion of shareholders, the demands of the consumers worldwide, and companies, governments and non-governmental organisations (NGOs) working toward common goals around the globe. Mainstream media and investors trumpeted what SRI investors have known for years: businesses need to address climate change now. When toxic toys hit the shelves around the holidays, the mainstream media picked up on another topic where social investors have been active: improving product and workplace safety. When the subprime mortgage scandal made the front page, community development organisations and investors continued working to promote and offer fair lending practices. Shareholder activists faced a setback, however, when the SEC limited their rights to nominate directors. With the SRI movement leading the way, it is no surprise that so many green, alternative energy and socially responsible funds and indices were introduced in 2007.
