Many changes have occurred in the field of Corporate Social Responsibility (CSR) over the past fifteen years. One of the changes currently occurring is the shift in mainstream demand for more environmentally and socially responsible goods and services. Responding to that consumer sentiment, "going green" has become the slogan for countless companies world-wide. The challenge of identifying which of these companies' claims are true reflections of their actual practices and which are merely marketing ploys meant to improve their public image is an issue that Blue Summit Wealth Management takes very seriously.
Today in fact there are several larger financial institutions claiming to provide socially responsible investment services. Their entrance has created some confusion outside of the growing SRI community as to the exact definition of socially responsible investing. Given that, it may be difficult for consumers to know who is real and who is greenwashing.
Historically the definition of Socially Responsible Investing has included three equally important factors:
1) Environmental & Social Screening
2) Shareholder Advocacy
3) Community Investing.
Many of the conventional firms that are now entering the SRI space may offer screening services but will typically not provide the more impactful components of advocacy and community investing.
At Blue Summit Wealth Management, we subscribe to a Deep Green philosophy, which is a term being used to describe companies that are more than just hype; companies like ours that engage as active shareholders through our Client Action Network. We work with local Community Development Financial Institutions to maximize the local social return on our invested cash equivalents. We educate the public on important social and environmental issues through our investor education workshops. And we operate with unwavering core values centered on our clients' best interests.
For us, Deep Green is about dedicating our lives to positive change while meeting the needs of our clients. It is our hope that this commitment will serve to distinguish us as a leading SRI firm.