Investing for Good: Making Money While Being Socially Responsible

Kinder, Lydenberg and Domini, the coauthors of The Social Investment Almanac , seek to help the reader resolve two questions: ``How can I implement my political objectives in my investment decision-making?'' and ``How can I participate in the redirection of capital for the greater good?'' Increasingly, individuals and investment institutions, note the authors, use their power as shareholders to influence corporate policy on such matters as environmental responsibility and treatment of women and minorities. They describe the use of ``screens'' to discourage investment in companies producing alcohol, tobacco or munitions; dealing with South Africa; or otherwise pursuing ``unethical'' policies. Pointing out that institutions and mutual funds now own more than 50% of all publicly traded stock, and acknowledging that this fact may potentially cloud management procedure, the authors demonstrate a fresh, progressive outlook on corporate accountability, which they find entirely compatible with profitability. (May)