Investments which take broader environmental or social goals into account are increasingly popular. Under the banner of ESG, finance is trying to offer socially conscious investors an ethical way to make money, and even create social change.
Like all things, the devil is in the detail. From this piece on ESG investing in the FT:
Competition between ESG ratings providers presumably creates arbitrage conditions for opportunistic organisations looking to get a favorable ranking. Done right, initiatives like the EU’s new green investment taxonomy will help address the problem.