Ivan Frishberg says his job is just smart financial policy. He’s chief sustainability officer at New York-based Amalgamated Bank, which focuses on socially responsible investment. That includes steering investments away from things like fossil fuels that contribute to global warming.
“Banks and asset managers are in many ways modeling capitalism,” he says, “moving money away from things that we know are inherently risky, and to where the market wants it.”
About ten percent of all investments in the world are now in some kind of environmental or socially aligned fund. And big financial firms like BlackRock – under pressure from shareholders – have joined the trend, attracting investors and positive media coverage by touting environmentally responsible strategies.
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