Last year, asset management platform OpenInvest launched a new “Racial Justice Cause” indexing tool—one of 16 such ’causes’ featured by the impact investing startup that focus on an array of environmental, social, and governance (ESG) values.
The indexing tool allows investors and asset managers to customize their portfolios to prioritize companies with a positive track record on issues like workforce diversity.
Now, more than a year on from the Racial Justice tool’s launch—in the wake of a massive public reckoning with that very cause after the killing of George Floyd in May—OpenInvest is providing a progress report of sorts for some of America’s largest public corporations.
The platform has announced 13 S&P 500 companies that are newly included in its Racial Justice Cause, while naming seven others that have been removed for failing to meet its criteria. Companies that clear this bar are “overweighted” in portfolios that use OpenInvest’s … Read More