Whatever else it brings, the widespread recession will give investors an opportunity to reassess an investment strategy that become increasingly popular in the last few years, and even more talked about: socially responsible investment.

The strategy it as the heart of the investment practises of funds such as that run by The Church of England, which today began the search for an investment director to manage its billion pound portfolio, free of sinful investments. Among its criteria is a blanket ban on shorting equities and no exposure to hedge funds