Money

Ethical investor
14 December 2010

Establish which issues are important to you when investing (eg companies with no involvement in GM or animal testing).
Decide how much risk you want to take. Shares are more risky than leaving money in a bank account, but the rewards are potentially much higher.
Contact an ethical independent financial adviser (IFA). Find your ethical IFA by looking at the up-to-date information provided by the Ethical Investment Association, the Ethical Investment Research Service, and the UK Social Investment Forum.
There are many ways to green your money. Your advisor may suggest you change your bank account, set up an ISA or start a pension fund. You may want to look at a green mortgage or moving your house contents insurance policy to an ethical provider.
Become a member of a credit union or join a time bank or local trading scheme such as LETS.
Do an annual audit - make sure your money is doing what you want by regularly checking on the interest rates of your bank accounts, the status of your mortgage loan and the ethical performance of the companies you are doing business with.
Make a will. Make sure your money goes to the right people and places. To request a legacy pack from Friends of the Earth, call 020 7490 1555.

This is an extract from Save cash & save the planet.