In today's world of financial engineering, investors are described in many ways, but very few include the word "responsible".
This type of investing goes beyond technical and fundamental investment techniques, and looks at the way a business behaves.
Some call it an investing strategy, but it really is more of a technique for choosing between different types of investments.
Social good includes things like:
Actually, SRI has been around for a while...more than 100 years. It was used by religious investors who wanted to steer clear of companies involved in tobacco, alcohol, and gambling.
It can make an investor feel that the profits they earn aren't at the expense of other people, the environment, etc.
Moreover, the way you define social good can have a huge impact on the availability of investments.
For example, an investor may choose to avoid tobacco companies because of tobacco's affects on human health. This investor would need to avoid companies such as Altria.
Up until 2007, Altria also owned Kraft Foods. So Kraft Foods would not make the cut for someone defining social good in a very strict sense, even though it isn't directly involved in the production of tobacco products.
Alternatively, you can choose to let the professionals due the searching for you. According to the US Safe Investing Forum, in 2012 there were 333 U.S. mutual funds that consider environmental, social, and/or corporate governance criteria. And don't forget about ETFs (exchange traded funds).
Remember that SRI is just way of choosing between different types of investments. Approach it the same way as you would all the different ways of investing money.
Remember: Just because an investment is "socially responsible" doesn't mean it will give you a good return.