Weeds Star Modine Loves Green

Actor Matthew Modine's recent work on Showtime's Weeds (CBS), seems to be rubbing off: The 48 year-old actor is all about putting his hard earned greenbacks into green-friendly causes. (The legal kind.) “Investing in ‘green’ technologies is not only an investment for the good of our environment, it is a great opportunity for wise investors,”  Modine tells MainStreet. “I want to work and do business with companies that have healthy environmental goals.”

Among the mutual funds that might be Modine’s cup of Yerba Mate tea, is Winslow Green Mutual Funds, which has been investing in environmentally responsible companies for 25 years. “We focus on green market sectors like renewable energy, recycling and sustainable living,” says Ethan Berkwits, Marketing Director for Winslow Green Mutual Funds. “We look for companies that exhibit a strong climate change plan and who are reducing the resources they use in manufacturing.” Berkwits notes that their green funds had long been considered an anomaly, until now. “Just in the last year there has been a significant amount of mainstream interest in what we do,” he says, adding that the fund is now being offered by 401(k) providers. 

David Schoenwald, President of The New Alternatives Fund, which refuses to invest in coal, oil and nuclear power, is also seeing an uptick in environmentally aware investors. “There’s been a much greater interest in the last couple of years I guess because of the global climate change and increased energy prices,” says Schoenwald. “And everybody watching Al Gore’s movie [An Inconvenient Truth].” 

Whatever the reason, Modine relishes the surge. “This desire will create tremendous opportunity for energetic companies who are designing new ways to get from here-to-there,” says Modine. He certainly knows an environmentally friendly way to get from here-to-there when he sees one—he’s the founder of Bicycle for a Day, an annual global initiative bringing together people who choose to ride a bicycle rather than use gas-powered motor vehicles. “Americans want homes that use less energy to heat or air-condition. They want to live in chemical free homes. Businesses that understand this will have more opportunity than ever before. So investing in these ‘green’ companies is a green light to successful investment.”

So far, Modine seems to be onto something. Five-year returns for the Winslow Green Growth Fund – a five star Morningstar fund—are 22.08% and beat its benchmark by over 16% in 2007. The New Alternatives Fund isn’t far behind with five year returns at 19.29%.