Socially responsible investing (SRI) targets individual companies or socially conscious mutual funds. For example, you might like to avoid tobacco, alcohol, or gambling firms, and support companies with a track record in social justice, environmental sustainability, alternative energy, and clean technology.
SRI is a growing practice with dozens of new funds and pooled investment vehicles available to retail investors. Mutual funds and exchange-traded funds (ETFs) can provide an added advantage of gaining exposure to companies across many sectors with a single investment. 
The goals of socially responsible investment are twofold: social impact and financial gain. Community investing that goes directly to organizations with a track record of social responsibility has the added advantage of helping communities that may not have had access to funding through banks or other financial institutions. You may want to funnel your money so it goes to affordable housing and loans. Another example, you may want to improve communities to reduce dependency on government assistance.
Maybe, you want to invest in companies that positively impact global warming and climate change. You can seek firms working on reducing emissions or sustaining clean energy sources. At the same time, you may exclusively avoid coal mining and fracking by removing any investments in your portfolio with a negative impact on the environment.
However, socially responsible means different things to different people. There are investment options for the devout. Consider the Ave Maria funds, which are guided by Catholic teachings in making investing decisions. A variety of funds make it a point to avoid so-called sin stocks, such as alcohol and gambling.
Another Strategy
There is at least one fund that goes in the other direction: The Vice Fund, which focuses on sin stocks, invests primarily in stocks generating the majority of their revenue from alcohol, tobacco, gaming and defense industries. You can target casino operators, gaming equipment manufacturers, defense equipment makers, or alcohol and tobacco producers. Some investors believe that the goal of investing is simply to make money, and the good comes from charitable donations we make with our profits.
It seems socially responsible investing is here to stay. By the ending of 2017, US SIF—The Forum for Sustainable and Responsible Investment reported $12.0 trillion or more was invested in SRI strategies. Socially responsible investing is impacting companies as it gains traction with business and the investing public.
Of course, investing decisions are complicated and important. Before making any decisions, think over the risks and implications and consult with financial professionals.