This paper explores investment appraisals (or capital budgeting decisions) restrained by various sources of uncertainty and influenced by corporate social responsibility and socially responsible investment thinking (SRI). The study aims to provide input for further development of computer based methods for integrating semi-quantitative decision analysis modelling with other quantitative methods for investment evaluations. Of particular interest in this paper is to assess the additional aspects of investment appraisals that derive from SRI thinking together with the multiple sources of uncertainty arising in such decision problems. We assess characteristics of how managers’ try to account for corporate social responsibility, how they cope with evaluating upon objectives beyond monetary return on investment (ROI) and how they manage uncertainty and the source of the uncertainties they emphasize. The perceived need for analytical decision aid in socially responsible investment decision making is analysed and the applicability of real options is assessed relative to the managers’ conditions and concerns. We conclude that organisations are generally exposed to and also consider both aleatory and epistemic uncertainty and need to handle other aspects of investments beyond monetary ROI. There is a mix of macro and micro variables creating a diversified environment where valuation methods such as real options in combination with decision analysis modelling could help in structuring the problem and enlighten different areas and aspects, thereby providing a framework for accounting for corporate social responsibility in capital budgeting decision making.