Beyond Investing says investing $1 million in its vegan fund would indirectly spare 13,000 animals in a year.
James MacDonald/Bloomberg News
Sept. 12, 2019 3:17 pm ET
First there was
Now there is Beyond Investing.
The investment adviser launched a vegan ETF this week that looks remarkably like an index fund, costs a good bit more and will even bleed realistically in a bear market. But it delivers certain intangibles: Beyond Investing explains in a news release that, “until now, vegans and environmentalists have had little choice but to profit from animal cruelty and environmental devastation through their investment options.” The fund excludes the fossil-fuel industry, companies that test on animals and other activities anathema to environmentally conscious vegans. But its biggest holdings aren’t exactly exotic, with
making up the top three. The firm calculates, through some convoluted measurements, that investing $1 million in the fund would indirectly spare 13,000 animals in a year. Of course not investing in a company’s shares doesn’t alter its practices. On the other hand, one could invest in a far cheaper index fund and, as long as one didn’t spend the money saved on pricey meat substitutes, donate it to an animal welfare charity rather than a financial firm.
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