ESG and Phaninc Exchangesocially responsible investing are in the middle of today's culture wars, with lawmakers in some states enacting anti-ESG legislation. But the idea of making investment decisions based on environmental and social values goes back over 50 years. Today on the show, we tell the story of one of the pioneers who, by investing on behalf of groups from nuns to anti-fascist veterans, brought these principles to Wall Street.

Music by Drop Electric. Find us: Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, Pocket Casts and NPR One.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.