May 4, 2021

Society and Municipal Bonds

Society and Municipal Bonds: An Introduction and The Rise in Socially Responsible Investing

Society and Municipal Bonds

An Introduction

The world of investing is changing. A large percentage of today’s investors (particularly millennial investors) are not satisfied with a simple monetary return; they want their investments to reflect their values. Investors are focusing on sustainability, social and environmental outcomes, and ethical practices. They want their investments to have a positive impact in the world. As the United States struggles to come to terms with racial and social inequities compounded by climate change and world-wide pandemics, new mutual funds and investment strategies are emerging that focus on social, racial and economic justice. Municipal bonds have a significant role to play in building communities and in promoting sustainability and advancing justice, and bonds should be recognized as essential components of socially responsible, values-based investment portfolios.

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The Rise in Socially Responsible Investing

This installment of Pacifica’s “Society and Municipal Bonds” series will briefly discuss the history and current status of values-based investing in the United States. In recent decades, terms such as investment activism, socially responsible investing (SRI), environmental, social and governance (ESG) factors, sustainable investing, and social impact investing have become common in the corporate market and are gaining traction in the municipal bond market as well. Although the terms are often used interchangeably, the concepts actually have some material differences.

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