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Gone are the days of choosing between sustainable change and growing your wealth. Turns out, you can do both with the same dollar. Here are seven ways for environmental and socially responsible investing without sacrificing returns.
The socially responsible investing sector grew from $8.7 trillion in 2016 to more than $12.0 trillion in 2018 — a staggering 38% increase, according to the Global Sustainable Investment Alliance. This pace is expected to continue as more people strive to invest in a way that aligns with their values.
Invest with a conscience through three main types of green investments:
Green bonds are just like regular bonds, but funds go toward environmental projects to fight climate change, prevent pollution, protect ecosystems, provide clean water and more. To sweeten the deal, many green bonds come with attractive tax incentives.
Some popular green bonds to consider are:
Have you ever stopped to think about how your bank generates a profit? It’s not uncommon for institutions to invest your money in oil and other projects that destroy the environment.
Put your dollars to good use by looking for fossil fuel-free banks and credit unions that hold environmental certifications, such as:
One neobank that gives back to the environment is Aspiration. It’s fossil fuel free, a registered B-corp, has taken the 1% For The Planet pledge and is completely digital — further reducing your carbon footprint.
Look at what brands you’re currently spending your money on and see if there are any eco-friendly alternatives.
If you love a good hamburger but don’t want to contribute to the meat industry, try Beyond Meat. If you want to reduce toilet paper waste, try Who Gives A Crap — toilet paper made from 100% recycled paper or bamboo. Better yet, get a bidet. Trust me. It will change your life.
Accounts like Aspiration Spend & Save give you cash back for shopping with eco-conscious brands. It also tracks your spending and assigns a sustainability score based on where you shop. The more consciously you spend your money, the higher your score.
There are crowdfunding sites for almost everything these days — real estate, peer-to-peer lending, donations and even green businesses. If you’re eager to help a budding business and make an impact on the environment, here are two platforms to check out:
Sometimes the most effective way to make a change is to donate to the organizations that are already making a difference. There are several environmental charities and groups that have strong, evidence-based track records for actively fighting climate change. Some of those are:
Investing for the environment has green benefits. But it also has financial ones. As sustainable investing has grown in popularity over the years, recent research suggests that it can be even more profitable than regular investing. Here’s why:
There’s never been a better time to invest for the environment — whether it’s through donating to charity, investing in green securities or comparing environmentally friendly banks and alternatives. Think through your financial goals, then choose the methods that will empower you to put your dollars to good use.
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