These days, everybody’s an environmentalist. But as the new year begins, we ask whether in this dismal market it’s possible to safely invest in green companies and funds.

The call to “go green” seemed to be reaching a fever pitch just a few months ago.

Then-presidential candidate Barack Obama was pledging to promote industries that were environmentally minded and invest federal money in creating green technology. Americans, tired of shelling out more than $100 at the gas pump to fill their oversize vehicles, were turning to hybrids in droves.

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