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.
The platform stated that by using data and analysis provided by JUST Capital, a nonprofit organization that measures companies against the priorities of the American people, it identified 20 publicly traded companies 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 30th. 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.”
Joshua Levin, co-founder and chief strategy officer, OpenInvest, stated:
“The goods and services produced by forced labor often end up in the global supply chains that stock Americans’ shelves. 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.”
OpenInvest identified the following 20 companies listed in the S&P 500 as part of its new impact investing category: Cisco Systems (NASDAQ: CSCO), General Mills (NYSE: GIS), Intel (NASDAQ: INTC), Hewlett Packard Enterprise (NYSE: HPE), Microsoft (NASDAQ: MSFT), PVH Corp (NYSE: PVH), Best Buy (NYSE: BBY), Coca Cola (NYSE: KO), Freeport-McMoRan (NYSE: FCX), VF Corp (NYSE: VFC), Qualcomm (NASDAQ: QCOM), HP Inc (NYSE: HPQ), IBM (NYSE: IBM), Bristol-Myers Squibb (NYSE: BMY), Ford Motor (NYSE: F), Hasbro (NASDAQ: HAS), Nike (NYSE: NKE), NVIDIA (NASDAQ: NVDA), Apple (NASDAQ: AAPL), and Texas Instruments (NASDAQ: TXN).
OpenInvest added that it 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 the implementation of its supply chain policies relevant to human trafficking and forced labor. These companies represent the top 2 percent of performers among over 900 companies researched.
Other screens available on the platform 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.