When Quinn Schwellinger, 31, and his wife decided to start building an extra retirement fund to supplement their 401(k)s, they knew they wanted to invest in companies that supported their concern for the environment. “My wife and I believe climate change is real, fundamentally,” said Schwellinger, vice president of Badger Ham, a third-generation family-owned business on Milwaukee’s south side. “I wanted to make sure our money wasn’t going toward things I didn’t want it to.”
The couple are part of a growing trend of millennials seeking so-called “ESG investment portfolios,” which direct money into companies chosen for their environmental, social responsibility and governance ratings.
“We’re starting to have buying power and we’re running businesses,” said Schwellinger of his generation. “We have social, governance and environmental expectations and we’re starting to ask questions.”