No explanation of ethical investment would be complete without a mention of venture capital and real estate. Particular attention can be paid to investing in young private companies providing innovative and far-reaching solutions to environmental and social problems - this part of a strategy can be a particularly powerful aspect. Venture capital investment can be very risky financially. However, faiths may choose to make the investment on philanthropic grounds in order to further the faith’s objectives - in which case the financial credentials may not be so important.Investment in real estate also brings social and environmental dilemmas. The example of the Bishop of Oxford demonstrates the social issues well. Ethical investment could seek out eco-housing projects which encompass issues such as development on brownfield (previously developed) sites with a high energy efficiency rating, good reuse of recycled building materials and timber certified to the Forest Stewardship Council standard.Link to International Interfaith Investment Group (3iG).