Time for Environment-friendly Investing

The surge to "go green" has begun, and some investors may feel it's not enough to just turn off lights or recycle. Wall Street has heard the environmental call and has taken steps to cash in on the growing trend. Responding to the fact that assets in US green mutual funds have risen by 695% in 6 years, some investment companies are starting to promote their environment-friendly investments. Investment banks have issued global warming reports, which look at stocks and industries that are likely to be affected by the changes. Some larger brokerage firms have put together teams specifically to address the need for green investing. Newsweek suggests the following green opportunities.

Two types of mutual funds are available; those that feature clean companies such as health care and software and those that stay away from companies involved in any type of "sinful" products or behavior. Green funds include Portfolio 21 (PORTX), Winslow Green Growth Fund (WGGFX), New Alternatives (NALFX), and Sierra Club funds (SCFLX; SCFSX; FSUSX). Green exchange-traded funds include Power- Shares WilderHill Progressive Energy Portfolio (PUW), PowerShares Wilder-Hill Clean Energy Portfolio (PBW), and Claymore/LGA Green (GRN). The Forward Progressive Real Estate Fund (FFREX) features green real estate management companies.