Forward Management, advisor to the Sierra Club Mutual Funds has launched a large-cap environmental index.

The Forward Progressive Large Cap 100 Index will track the performance of the 100 largest companies that have passed Forward’s and the Sierra Club’s 20 strict environmental screening criteria. This includes five exclusionary criteria for companies that the advisor will not invest in, including tobacco, drilling, mining and weapons.

Socially responsible investing companies do not focus on environmental issues, noted Garvin Jabusch, who said he believes this is the first index of its kind. “While there are other environmentally oriented indices, the Forward Progressive Large Cap 100 Index has a greater focus on sustainability issues and is the first to truly exclude environmentally deleterious sectors such as oil and mining,” Jabusch said.

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