Investors are starting to become more discerning about where they put their money. Richard Branson and Bill Gates are among the growing number of high-profile names investing in businesses that seek to do social good.
Many brands label themselves ‘ethical’ because of their commitment to initiatives that include supporting human rights, fair labor conditions and sustainability, but there’s a gap in the environmental, social and government criteria (ESG) that’s used to identify socially responsible companies. At the moment these criteria don’t include animal cruelty, exploitation or abuse.
Cruelty Free Investing, a 501C3 non-profit organization launched today, aims to fill that gap by providing resources for individual and institutional investors and financial advisors to help them make decisions in line with their values.
Every single publicly-traded corporation on NASDAQ, NYSE and NYSE American (formerly AMEX) appears in one of two lists on Cruelty Free Investing’s website: Companies that do exploit animals, and companies that don’t.
Businesses are judged on whether they manufacture or serve food or drink items that contain animal products; make or sell clothing that involves killing or harming animals, such as leather or fur; manufacture or sell products that involve animal testing; or breed animals for food production and/or animal testing. Investors can click on the name of each company to find out how it does or doesn’t exploit animals.
The good news is that most companies are doing the right thing. Out of a total of 4,911 companies researched and listed on the site, 3,870 are cited as not exploiting animals, while 1,041 are deemed to exploit them.
While many investors prefer to buy shares in mutual funds instead of picking individual stock options, there are currently no mutual funds with a focus on the rights of animals. Cruelty Free Investing, which was founded by former journalist Dave Brett Wasser, hopes that its research will encourage the creation of such funds, which will then be added in a new section on the website.
As animal cruelty and exploitation continues to be exposed in the media, as well as on social media, we are seeing a new generation of investors and finance industry professionals seeking truly ethical options. These include the ‘vegan mafia’, a network of investors from companies including PowerPlant Ventures, VegInvest and Stray Dog Capital; the Glass Wall Syndicate of plant-based investors; and Baleine & Bjorn Capital, headed up by Smarties co-president Liz Dee, as well as financial planning firms such as Humane Investing. The tide is turning. Make sure you’re on the right list.
