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July 06, 2006 at 04:51 PM
The Co-op America Business Network has agreed to encourage its 3,500 members to adopt a 401(k) plan investment option platform that includes more than 100 socially conscious funds.
Co-op America, Washington, a group that says it promotes social justice and environmental sustainability, has formed a marketing alliance with Social(k), Springfield, Mass., the group that has designed the socially conscious 401(k) investment platform.
Managers of socially conscious funds may exclude stocks of companies that promote gambling, sell tobacco, appear to treat employees unusually badly, or appear to engage in other activities that violate the funds’ screening requirements.
Money managers also have developed the Vice Fund, a fund that is conscious of social issues and intentionally invests in companies that engage in what some believe to be objectionable businesses.
