The new tool enables users to screen for stocks that fit the mold of so-called socially responsible investing (SRI). The SRI Stock Screener is available for free on The Big Money (www.thebigmoney.com), a newly launched financial news site from online magazine Slate.
The Web site notes that SRI has “quickly gone from a fringe concern to a mainstream movement, from $12 billion of assets in SRI mutual funds in 1995 to more than $200 billion today.’
Companies are rated on the site by their performances in five profile areas: “gay/lesbian,’ “green,’ “labor and human rights,’ “nonmilitary,’ and “no vice.’ Users can select as many of the categories they like to see the mostly highly rated funds.
According to the methodology, IW Financial (which specializes in environmental, social, and governance analytics) compiled the ratings by comparing each company with all others in its coverage. The company examined about 3,400 publicly traded U.S. companies, including most of the Russell 3,000 and S&P 1,500.
“The Screener is a convenient, easy-to-use way for investors to gain insight into the environmental and social practices of companies where they have an investment or those in which they may plan to invest,’ said James Ledbetter, the editor of The Big Money (previously former deputy managing editor of CNN Money) in an IW Financial news release. “It is one of a number of tools we have added to The Big Money site to increase interactivity and to create practical value for visitors.’
The tool is available here.