Just 4% of company 401(k) plans offer the choice of a ‘socially responsible’ mutual fund as one of its investment options:
Sure, the 16-year old Swedish activist just boosted the attention given to the climate-change crisis with her passionate speech at the United Nations.
So it isn’t surprising there’s been a surge in interest in “socially responsible investing,” including funds which avoid major polluters like the fossil-fuel industry.Just 4% of company 401 retirement plans offer the choice of a “socially responsible” mutual fund as one of its investment options, the Plan Sponsors Council of America, a trade body, tells MarketWatch.
The number of funds jumped 50% last year to 351, says the research company, and fund flows were a “record” $5.5 billion.That’s not even a rounding error compared with the $18 trillion invested in all stock and bond funds, as reported by the Investment Company Institute, the trade association for the mutual-fund industry.
Index funds invest passively across the board, he says. They make no ethical distinctions between companies based on how they act. He urges those “with a conscience” to move their dollars to funds that incorporate ethical screens.
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