Letters to the Editor
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Investing "Green" doesn't affect the environment
The reason is that the money you invest in the stock market doesn't go to the companies - it goes to the person who sold the stock. It has no effect on the company in question.
Ultimately the price of the stock does have some effect on the company's behavior, but not usually a tremendous amount. However, your choice of investments does not really affect the stock price at all.
Here's why. Suppose you think WalMart is so evil you won't invest in it. It won't matter a bit, because so many others don't care and will buy the stock. But suppose enough people did care, enough so that the stock started to dip just for that reason (the underlying business reasons for the stock were not affected). Somebody, somewhere would see this as a buying opportunity and purchase the stock, keeping it from going too low, and you'd have given that person a shot at making a good deal.
At the very least you'd expect the executives and board members of the company to buy the stock so the main effect you'd have on them by boycotting the stock is to make the officers and board members richer.
I'm not saying you won't get good returns on your money investing in a green fund (I haven't done enough research to have an opinion) but you won't affect the environment.
Better to do anything you can (legally) to get rich in the stock market, then give your money to help elect people to run the government in a way that will help the environment.
Next best might be to invest in environmental start-ups, where your investment does go right to the company - however that's like charity. It's almost a sure way not to get rich yourself. Don't ask me how I know this [grin].