Since joining the business world I’ve learned a lot about the ways people with money are trying to put that money to good use, for society as well as for themselves.
Most recently I’ve been wrangled into a conference at school on impact investing. Impact investing has been a buzzword for several years, with impact funds giving investors the choice to put their money towards firms that engage in good environmental, social, and corporate governance practices.
But what if you’re a savvy investor who simply cares about denying equal rights to the LGBT+ community? Well, don’t worry, because now, as Robin Wigglesworth writes for the FT, there’s an index fund for you too:
[Inspire Investing] uses a scoring system it calls the Inspire Impact Score to grade companies and select them for inclusion in its underlying BRI index and the ETFs, a methodology that removes any companies with “any degree of participation” in activities that “do not align with biblical values”, according to the prospectus registered with the SEC.
In addition to LGBT+ issues, so-called ‘Biblically Responsible Investing’ excludes companies affiliated with alcohol, gambling, pornography, and abortion. In this way target investors can rest assured those activities will remain the domain of only their very private lives.
Given the huge and growing corporate support enjoyed by the LGBT+ community worldwide, it’s difficult to imagine such a product gaining much traction.
Meanwhile, if you’re keen on putting your money towards enterprise that actually empowers women (regardless of sexuality,) then you might want to check out Gender Lens Investing, one more way to give your money to women.