Green investing puts stock in the market and in humanity, according to the proponents of investing who spoke at the annual Financial Fitness Fair in the Memorial Union on Monday.
"Socially conscious investing" or "green investing" is a concept that is on the rise, according to Craig Morningstar, a managing partner for Second Look Financial.
The Scottsdale-based company has only been in business about 18 months, and Monday marked the first time representatives have visited ASU, Morningstar said.
The investing firm identifies companies that exercise social responsibility, including companies without labor violations, environmental violations, or union problems, and companies that treat women and minorities fairly, Morningstar said.
"Ben & Jerry's is one example of a socially conscious company," he said. "They care a lot about community outreach programs, not the bottom line."
Many clients ask not to invest in tobacco and alcohol, he added.
"But that is only the tip of the iceberg," he said.
Clients of Second Look Financial fill out a survey before they invest, so they can tell the company how much of a commitment they want to make to social issues.
"On a scale of one to five, clients can specify what issues they want Second Look to screen for," Morningstar said.
He said academic faculty and staff make up the largest number of clients for the company.
Valerie Craig, a senior instructional specialist at the Student Development Learning Resource Center, stopped by the Second Look Financial booth in the MU to explore her options in socially responsible investing.
"For the most part, I don't know who the mutual fund companies are buying stocks from," Craig said. "If I were given two choices, one that was investing in oil and tobacco stocks and another that wasn't, I would definitely choose the one that wasn't."
"I would guess that a campus community probably has more people that are willing to sacrifice a few bucks for the future, than some communities," Craig said.
Morningstar also said socially conscious investing is lucrative.
"I wouldn't say that it's the most idealistic community in the world, but I can think of some that care a lot less," Craig said.
Reach the reporter at meagan.pollnow@asu.edu.
