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When it comes to their retirement funds, many workers and retirees are looking for ways to give back to the communities in which they live.
Now, a new report from the Global Impact Investing Network finds that some of the world's largest faith-based pension funds are taking a new approach: investing in social and environmental causes alongside their own financial returns.
The report, which looked at 45 pension funds from around the world, found that many are investing in areas such as affordable housing, clean energy, and environmental preservation, as well as improving the communities in which they live, the New York Times reports.
"It's a great time to be a pension fund," the chief investment officer of the Boston Archdiocese's Teachers' Retirement System tells the Times.
"It's a great way to give back to the communities in which we live, and it's a great way to do it in a tax-deferred manner."
The report found that some of the world's biggest pension funds have more than $100 billion in assets and are investing more into social and environmental causes than they did in the past.
The report also found that some of the world's biggest companies are investing more into social causes than they did in the past.
The authors of the report
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Foundation: Headwaters Foundation for Justice, MacArthur Foundation, Marguerite Casey Foundation, Marguerite Casey Foundation
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