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Social Spending
Please note: This item is from our archives and was published in 2006. It is provided for historical reference. The content may be out of date and links may no longer function.
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SURVEY SAVVY
eople who buy socially responsible mutual funds are more likely to use their wallets in other socially conscious ways as well, a February survey by TIAA-CREF ( www.tiaa-cref.org ) found.
The company surveyed 1,002 TIAA-CREF customers, split evenly between those who invested in its Social Choice Account (SCA) and those who didn’t. SCA investors were more likely to purchase products from companies whose corporate practices they approve of (71% vs. 59%), boycott products from companies whose corporate practices they disapprove of (77% vs. 67%), buy organic food (61% vs. 48%) and consider buying a hybrid car (76% vs. 69%).