Five Eco-Friendly Funds

ThStreet.com:

Al Gore won the Nobel Peace Prize, the Vatican is going carbon neutral and Australia is phasing out incandescent light bulbs.

So what can you do to help make the world greener? Why not check out mutual funds that specialize in eco-friendly investing. The sector has grown rapidly in the last few years. According to Michael Herbst, an analyst at Morningstar, net assets of the 10 actively managed green mutual funds the firm tracks have increased by 414% over the last three years.

If this kind of approach appeals to you, here are some places to start:

The Portfolio 21 Fund (PORTX). Like traditional socially responsible funds, this one excludes companies in the nuclear energy, tobacco, gambling or weapons industries, as well as companies with poor records in employee relations, human rights, community involvement and product safety.

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