SAN FRANCISCO, July 31, 2017 /PRNewswire/ -- OpenInvest, an impact investing platform empowering individuals to drive social change with their dollars, today announced the launch of the first impact investing category that works to end forced labor and human trafficking. Using data and analysis provided by JUST Capital, a nonprofit organization that measures companies against the priorities of the American people, 20 publicly traded companies were identified that have demonstrated the highest commitments to fighting forced labor in their supply chains, among other human rights abuses.
The Human Rights in the Supply Chain category was created in recognition of the United Nations' World Day against Trafficking in Persons on July 30. Human trafficking victims are estimated to exceed a total of 21 million globally. One quarter of the victims are under the age of 18. Human trafficking persists because it is big business, with traffickers profiting more than $150 billion per year.
"The goods and services produced by forced labor often end up in the global supply chains that stock Americans' shelves," said Joshua Levin, co-founder and chief strategy officer, OpenInvest. "We launched the Human Rights in the Supply Chain Screen as a new cause-driven issue on our platform because individual investors own nearly 80 percent of US equities markets and are instrumental in holding companies accountable for either helping or harming the fight against forced labor."
Several companies have been accused of benefiting from forced labor practices. For example, a recent expose by the LA Times uncovered extensive forced labor practices in Mexican mega farms that supplied Wal-Mart, Subway, and Safeway with produce, among others. The Guardian reported that slave labor was being used to process Thai shrimp supplying Kroger, Costco, Whole Foods, Dollar General and Petco.
OpenInvest identified the following 20 companies listed in the S&P 500 as part of its new impact investing category:
Hewlett Packard Enterprise
OpenInvest and JUST Capital selected each of the 20 companies by reviewing their internal governing practices, adoption of generally recognized supply chain standards, corporate policies, audit procedures, public disclosures, and robust governance over implementation of its supply chain policies relevant to human trafficking and forced labor. These companies currently represent the top 2 percent of performers among over 900 companies researched.
To overlay the positive screen on their diversified investment portfolios, OpenInvest users simply click on the Human Rights in the Supply Chain Screen. Other screens available on the platform which can be mixed and matched include: climate change, fossil fuels, weapons manufacturers, gender equality, LGBTQ workplace treatment, deforestation, tobacco, companies funding the Dakota Access Pipeline, and companies supporting President Trump.
For more information, please visit openinvest.co.
OpenInvest (https://openinvest.co) is a YCombinator- and Andreessen Horowitz-backed startup providing the world's first Socially Responsible Investing (SRI) platform for retail investors. The company was founded by a unique set of innovators: a technology leader from the world's largest hedge fund (Bridgewater), a sustainable finance leader from the world's largest environmental NGO (WWF), and the founder of a consumer tech unicorn (Deliveroo). Together with their team, they are committed to mainstreaming ethical investing by making it easy, personalized, and social. Divest-invest with a swipe, vote shareholder resolutions, participate in mass campaigns, measure your impact, and claim the power that is rightfully yours in public markets. To get started, visit openinvest.co and sign up for a new account. Follow OpenInvest on Facebook and Twitter.
About JUST Capital
JUST Capital makes it easier for people, companies, and markets to do the right thing by tracking the business behaviors Americans care about most. Our overall platform and the research underpinning it empower consumers, workers, business leaders, investors – all of us – to make more informed decisions about where to buy, work and invest, and ultimately, to direct capital towards those advancing a more just future. The JUST 100, which ranks the largest publicly traded companies in America that perform best on the issues the American public prioritizes, will be published in December in partnership with Forbes.
For more information, visit www.justcapital.com.
JCUTLER media group
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