The Future of Ethical Investing (Streaming Video)
In this program, Hazel Henderson and Wayne Silby, lawyer and founder of the Calvert Group of socially responsible mutual funds discuss where these investing trends Silby pioneered, are heading. They discuss how these trends evolved, as both were colleagues at Calvert from its launch in 1982, when Henderson served on Calvert’s Advisory Council with other experts, helping develop Calvert’s social screens. These screens helped steer portfolios away from companies with poor records on pollution, mistreatment of employees, alcohol, tobacco, weapons makers toward the cleaner, greener ethical portfolios of many hundreds of similar funds today. Both agree that these investment vehicles, whether still called “triple bottom line”, SRI, ESG, ethical, or “green” are now mainstream, with their value-based metrics offered by Morgan Stanley’s MSCI group. These funds are now often re-branded more broadly as “impact investing“ seen as more acceptable, and are now offered by mainstream firms from Blackrock and Goldman Sachs to Bank of America. Other terms include “sustainable,“ all widening the market for these funds. Thus, the issue going forward is to monitor these mainstream funds, their values, mission statements and portfolio choices and performance to avoid “greenwashing."