These days the concept of sustainability is a hot ticket into the world of socially responsible investing. Just last week, a trio of investment management firms announced plans to incorporate the components of sustainability investing into their product offerings.
Northern Trust of Chicago launched the first mutual fund to adopt a global sustainability focus two weeks ago. TIAA-CREF of New York is in the process of adding an international component to its Social Choice variable annuity subaccount that will be screened to include companies in developed nations with strong sustainability practices. And well-known socially responsible investment pioneer Pax World of Portsmouth, N.H., jumped into the fray, announcing it was licensing the rights to use three sustainability indexes and would be developing a suite of new products.