The Canadian Ethical Money Guide

Description

169 pages
$19.95
ISBN 1-55028-520-3
DDC 332.6'78

Year

1996

Contributor

Reviewed by Marcia Sweet

Marcia Sweet, formerly head of the Douglas Library’s
Information/Reference Unit at Queen’s University, is currently an
Ottawa-based information consultant and freelance editor.

Review

These guides focus on profitable investing that reflects and respects
widespread ethical and community concerns. They are based on the
premises that businesses have an obligation not only to raise profits
for shareholders but also to be responsible corporate citizens, that
businesses do not lose when they operate inside ethical guidelines, and
that investors can profit from investing in such companies.

The books describe investments that have the capacity to change society
for the better, such as micro-credit projects in developing countries
and loans to women and others who historically have received short
shrift from the banks. They also profile labor-sponsored investment
funds aimed at creating jobs and providing venture capital to companies
that may not qualify for bank loans. The 1997 edition examines financial
institutions and points out that credit unions reflect social values
better than banks by keeping investment in the community. The guides
identify mutual funds that exclude the stocks of companies engaging in
objectionable activities (i.e., dealing with repressive regimes,
engaging in military production, ignoring environmental sustainability)
and list “ethical” companies. They also chart the best Canadian
forest companies and Canada’s top 15 corporate job killers, and
provide a list of relevant publications and resources. An index and a
list of acronyms would have been helpful.

Informative, objective, and clearly written, these practical guides are
hard to put down.

Citation

Ellmen, Eugene., “The Canadian Ethical Money Guide,” Canadian Book Review Annual Online, accessed June 14, 2024, https://cbra.library.utoronto.ca/items/show/2045.