Socially Conscious Women Combine Investments and Philanthropy

Drawing on broad experience in the advertising world, Amy Hefti serves as the head of marketing for NCL Government Capital in Minnesota, which arranges cooperative purchasing for governmental agencies. In a previous position at the Accenture marketing firm, Amy Hefti consulted frequently with Bank of America. Recently, this banking and investment firm published an article describing how women can use their money to improve social conditions.

It is estimated that the worldwide total of women’s assets could reach $110 trillion by 2025, giving them additional clout in financial affairs. One Bank of America executive who focuses on sustainable investments and another who advises women on philanthropy stated that women’s wealth could help create an economy based on their values.

Women frequently invest in groups and projects that uplift other women, and they tend to match these commitments with participation in socially conscious investments. Many of them are less concerned with the bottom line, and instead seek companies that promote social goals.

The Bank of America interviewees noted that while donations to worthy causes are effective, they are not sufficient to drive change. Sustainable investments that deal in large sums potentially have a greater impact. Failing to support both avenues of change can be self-defeating, such as when a woman who donates to climate change advocates has money in a mutual fund that includes coal-mining companies.