The Color of Money
Investing in green tech is good for the environment--and for your portfolio.
After seeing a screening of An Inconvenient Truth last fall, 31-year-old Karyn Ravin regretted ever leasing her gas-guzzling Nissan Pathfinder. She should have bought a Toyota Prius, she sighed. But with one more year left on her SUV's lease, Ravin opted for the next best green thing--100 shares of Toyota Motor (TM), an auto company known for its dedication to fuel efficiency. "It was doing our little part," says Ravin, owner of Maletzky Media, a boutique PR and marketing firm in New York City. So far, the stock's been friendly to her broad-based retirement portfolio, climbing roughly 15 percent since she bought it last September.
Indeed, green is the new black on Wall Street, with individuals increasingly placing bets on eco-friendly stocks, mutual funds and exchange-traded funds (ETFs). "People understand you don't have to sacrifice returns to invest in an environmentally responsible way," says Jack Robinson, lead portfolio manager of the Winslow Green Growth Fund.
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