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For those who want to put their money where their morals are, there are plenty of options for investing more ethically, writes Lisa Kramer, a professor of finance at University of Toronto Mississauga and the Rotman School of Management .

Socially responsible investing now comes in many forms, Kramer says, for those who do not want to support particular industries like tobacco, firearms or fossil fuels.

But she warns that, because there is no regulatory body that determines what is considered a socially conscious investment, investors “must look under the hood to confirm that a fund’s definition of ethical aligns with their own.”

Kramer also says ethical investing doesn’t have to come at a steep price – there are still ways of earning a good return on ethically-focused investments.

“Whether your own moral compass gravitates to human rights, animal rights, green energy, or a combination of these and other progressive ideals, it’s no longer necessary to pick between your conscience and your pocketbook when choosing how to invest,” she writes.