Worldwide, it is estimated that so-called socially responsible investments represent USD $3 trillion in assets. Approximately two-thirds this amount comes from the American market. In Canada, such assets represent approximately CAD $ 50 billion. in the U.S. 84% of investors are more likely to invest in a mutual fund if it engages in ethical business practices in its operations and reporting, according to a recent Harris poll commissioned by Calvert Group, while in Canada in a recent poll, 53% of Canadian respondents said they were interested or highly interested in responsible investment.
Socially responsible investment is a significant, growing phenomenon and is sharply increasing in the United States, largely exceeding the increase in the market as a whole. In fact, the phenomenon has given rise to a brand new sector of firms offering socially responsible investment consulting and financial products. (source: Quebec National Assembly, 2002) .
Amy Domini, founder and CEO of New York City-based Domini Social Investments, sees the rise of SRI as irrevocably tied to the rise of LOHAS movement in general. “People, generally speaking, are drawn to this type of investing for a consistency of purpose,” she says. “They want to bring their investments more into alignment with the way they live their lives.” Domini says the SRI trend is more clearly seen in how many companies now publish sustainability reports or social responsibility reports. Nearly half of the S&P 500 now do so. “These are things that didn’t even exist 20 years ago,” Domini says.
The Green Stock Exchange (GREENSX) fosters “creative capitalism”, by not only generating wealth, but also benefiting society. The Green Stock Exchange (GREENSX) makes it easier for green investors to find and support socially responsible investments, since all companies listed on the exchange are pre-screened according to social and environmental guideline. We use the following social and environmental guidelines:
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sustainability (by use of materials, waste, goods & services it provides) |
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carbon reduction & carbon neutrality to fight climate change |
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fair trade, sweat shop free, living wages and pay equity |
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charity, support local communities & the economically
disadvantaged |
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produce, distribute and sell natural/organic food products |
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foster diversity and equality for women, race, age, religion, the disable and sexual orientation |
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demonstrated record of women & minorities serving on
their boards/management |
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purchase goods / services from minorities,
women owned, small businesses and local businesses |
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renewable and clean energy |
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engaged in child labor and exploitation of children |
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military weapons, firearms and military operations |
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nuclear power plants and nuclear wastes |
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products with genetically modified organisms (GMO) and cloned organisms |
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tobacco products and illegal drugs |
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alcoholic beverages, except wine and wineries |
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gambling |
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engaged in anti-union activities |
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products using recombinant bovine growth hormone (rBGH/rbST) |
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dumping and disposal of hazardous and toxic wastes |
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mining, oil and gas |
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violations of environmental laws and regulations |
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producers of synthetic pesticides and fertilizers |
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industrial agricultural operations and/or
confined animal feeding operations |
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fishing or hunting |
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cruelty to animals, including testing on animals |
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the fur trade or products made with fur, ivory, rare wood, etc. |
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violating
occupational health and safety laws/regulations |
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violating affirmative action
standards, practiced discriminatory labor practices based on
disability, gender, age, race, religion or sexual orientation |
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