Warm and fuzzy
The trouble with “ethical” investment is the woolliness of its principles
EVEN the world's largest and second-largest pension funds are at it. ABP in the Netherlands announced this week a “socially responsible” investment of $200m. Calpers, the pension fund for California's public-sector workers, recently said that it would run its emerging-market portfolios in an “ethical” manner. What started as a fad for idealists has now become a mainstream idea debated by pension-fund trustees, fund managers and company executives.
This article appeared in the Finance & economics section of the print edition under the headline “Warm and fuzzy”
From the July 14th 2001 edition
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