More SRI Investors Avoiding Fossil Fuel Industry | First Affirmative Financial Network

Posted by folioadmin | May 16, 2014 12:00:00 AM

May 16, 2014 • FA Staff 

More SRI investment professionals are offering portfolios free of the fossil fuel industry, says a new survey by First Affirmative Financial Network, an RIA specializing in socially responsible investing.

The SRI Conference 2014 Fossil Fuels Divestment Survey showed the number of portfolios being offered without any investments in coal, oil or natural gas businesses grew from 22 percent last year to 36 percent this year. The survey is based on 587 responses from SRI investment professionals.

The survey also showed that 76 percent of the respondents believe that there are growing risks associated with investing in fossil fuel extractors and manufacturers.

A growing number of SRI professionals-72 percent this year compared to 67 percent in 2013-see 2014 as the year that investors will rethink their investments in fossil fuels, according to First Affirmative.

Forty-nine percent of survey respondents say institutional investors are interested in fossil-fuel-free investing and 62 percent said retail investors want that type of investment.

"The growing drumbeat of responsible investors seeking investment strategies with little or no exposure to coal, oil and gas extraction companies will only increase as more more analysts and investors understand the stranded asset risk equation," First Affirmative President Steve Schueth said in a prepared statement.

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