San Francisco, June 06, 2022 (GLOBE NEWSWIRE) — Adasina Social Capital (“Adasina”), an investment and financial activism firm that serves as a critical bridge between financial markets and social justice movements, today announced the launch of a new “Civil & Voting Rights” screen as part of its Social Justice Investment Criteria.
The new screen identifies companies making disproportionate contributions to political campaigns that oppose civil and voting rights legislation. A recent example of these campaigns is the John R. Lewis Voting Rights Advancement Act of 2021 (H.R.4), which passed in the U.S. House of Representatives, but did not pass in the Senate. In 2022, a second attempt to pass the bill, attached to the Freedom to Vote Act (S.2747), also failed to pass in the Senate. Companies that meet the contributions threshold are excluded from the Adasina Social Justice Index (JUSTICE), which serves as the basis for Adasina public equity strategies. The Index is designed to support progressive movements for change, and includes a global universe of public companies whose practices are in alignment with social justice values.
Adasina created the Civil & Voting Rights investment screen using research and metrics from the National Association for the Advancement of Colored People (NAACP). Companies in violation of the new investment screen include, among others:
- Autozone Inc (AZO)
- Bok Finl Corp (BOKF)
- Calif Water Srvc (CWT)
- Coterra…
