BlackRock Inc. and Thomson Reuters have teamed up to launch an exchange-traded fund(ETF) that’s investing in companies that prioritize diverse and inclusive employment.
According to BlackRock, most ETFs focus on just a few topics, such as gender or race. In contrast, their ETF will track 24 different metrics under diversity, inclusion, people development and news and controversies.
The new ETF will track those 24 metrics throughout 2,000 publicly-traded companies and keep track of the top 100 companies from that group based off of those factors.
“Within our corporate culture, we do see the benefits of building and flourishing an inclusive organization,” Elena Philipova, global head of diversity at Thomson Reuters, said, “We’ve seen the financial benefits of doing so.”