The negative "tree-hugging" image of individuals concerned with ethical or environmentally friendly issues is long dead. In the era of organic farming and back-to-the-land lifestyles, investment choices are operating on a higher plane.

Investors are becoming more aware that some shares, pension funds, unit trust or savings accounts may indirectly support the production or sale of arms and oppressive regimes or the destruction of rain forests says Which, the UK-based consumer magazine.

"According to the Ethical Investment Research Service, over £2.2 billion is invested in ethical funds in the UK by over 300,000 unit and policyholders.

"The ethical sector accounts for about 1 per cent of the total UK market but is growing rapidly," says the magazine. The two largest ethical unit trusts in the UK are Friends Provident Stewardship Fund and CIS Environ unit trust. Over the last five years they achieved returns of 76 per cent and 67 per cent respectively.

A free Guide to Ethical Investing is available from the Ethical Investment Association (EIA). Write to EIA, c/o Ethical Services, 33 Ribblesdale Place, Preston, PR1 3NA, UK for a complimentary guide.