Prince Harry and Meghan, the Duchess of Sussex, have joined Ethic – a fintech asset manager focusing on ESG investing.
Their goal is to promote investments that are aligned with the Environmental, Social, and Governance movement, to make sustainable investing mainstream.
In a joint Dealbook interview, Meghan said, “From the world I come from, you don’t talk about investing… You don’t have the luxury to… That sounds so fancy. My husband has been saying for years, ‘Gosh, don’t you wish there was a place where if your values were aligned like this, you could put your money to that same sort of thing?’
Ethic’s dedication to sustainable investing.
According to Doug Scott, an Ethic founder, Ethic screens companies and sectors based on social responsibility criteria. This includes racial justice, climate change, and labor issues.
Ethic currently has $1.3 billion under management. Assets have tripled since they started in 2015.
“You already have the younger generation voting with their dollars and their pounds.” said Harry. He feels this platform is the next step since people can invest in causes dear to them.
Interest in sustainable investing is growing.
As the effects of climate change become more apparent, individuals, companies, and governments want to fight against it. This is being done through technological innovation and carbon offset projects – which are booming.
Right now, the carbon credit and offset industry is expected to reach $22 trillion by 2050. Its growth has been fueled by approaching Paris Agreement deadlines, as well as the upcoming COP26 summit.
With Harry and Meghan serving as “impact partners” and investors, Ethic and other companies that promote sustainable investing can all play a part in combating climate change. It’s encouraging to see those with a voice using it for good.
Harry and Meghan were introduced to Ethic by friends. They hope their involvement will make investing more accessible to younger people.