Can you really do right by investors and pensioners via green investing? Well, socially conscious investors would, of course, say yes. But a fairly big debate is raging. Some big funds are putting their money where there consciences are. The California State Teachers' Retirement Fund, one of the largest pension funds in the United States, has taken the green investing plunge, hoping to set a trend. But other institutions, including funds run by Harvard and Yale, are wary of such a move, fearing the effect on returns. Globally, the movement is picking up some steam. The New York Times reports that the British environment agency's pension has shifted contracts away from fund companies such as Capital International and State Street Global Advisors because they did not abide by suitably green standards. We'll see where this goes.

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