Today there are an increasing number of mutual funds that aim to build a reputation for being good corporate citizens. These mutual funds often label themselves as 'Socially Responsible Investing' (SRI).

But different terms have different meanings to different investors. Some people avoid investing in industries that make products which are considered unhealthy or harmful to the public. For example alcohol, tobacco and nuclear energy.

Back in the 1800s the Quakers, an anti-war, anti-slavery religious group that was in the oat meal business, avoided investing in weapons or the production of military equipment. They called it faith-based investing.

This type of investing embraced the basic tenets of a particular religious community, such Catholics or Muslims. For example, even today Muslims avoid investing in financial institutions that pay or charge interest to pork manufacturers. Catholic churches avoid investing in companies that produce contraceptives or publish pornography. Others avoid investing in those hospitals that provide abortion services. Socially minded investors may avoid companies that ignore animal rights, treat women badly or pollute the environment.

If your parents want to build a better future they need to identify their social priorities first. Let conscience be your parents' pilot in the screening process.

In some cases, you may remind them that some investments may not be as clean as they think. For example, an investment may shun tobacco manufacturers, but it may turn out to be an investment in a retail chain that sells cigarettes.

If your parents feel confused, encourage them to contact Greenpeace for guidance. You can remind your parents that investments in charity always benefits society. At least they will be rewarded with a tax deduction and peace of mind.

Dr Sze is the president of the Society of Registered Financial Planners