OpenInvest, a leader in values-based investing, was named a finalist in Fast Companys 2021 World Changing Ideas Awards for its Divest from the Prison Industrial Complex Cause, which helps investors divest from companies profiting from prison labor and invest in companies committed to employing formerly incarcerated people.
Now in its fifth year, the World Changing Ideas Awards showcases leaders in various industries, including Investing, Health and Wellness, AI & Data among other categories. A panel of eminent Fast Company editors and reporters considered more than 4,000 entries from across the world, reflecting businesses, policies, projects, and concepts that demonstrate a deep commitment to pursuing innovation when it comes to solving health and climate crises, social injustice, or economic inequality.
OpenInvests Divest from the Prison Industrial Complex Cause allows investors to dynamically build portfolios that invest in companies publicly committed to employing formerly incarcerated job seekers and divest from corporations using prison labor directly or in its supply chain. The cause also divests from companies that are involved with immigrant detention facilities, engage in pro-incarceration lobbying, or financially support the sector.
Its an honor to be recognized as a finalist in Fast Companys renowned World Changing Ideas awards, said OpenInvests co-founder and Chief Strategy Officer Josh Levin. Were incredibly proud of our team and their accomplishments as we work to help investors fight against the exploitation of incarcerated people, invest in second chances, and support economic justice.
With its bulging population of incarcerated people, the United States owns the worlds highest prison rate. Today, more than 4,100 companies are fueling a prison labor market and capitalizing on mass incarceration. Other companies, however, have committed to supporting formerly incarcerated people through employment, such as signatories of The Obama Administrations Fair Chance Business Pledge.
There is no question our society and planet are facing deeply troubling times. So, its important to recognize organizations that are using their ingenuity, impact, design, scalability, and passion to solving these problems, says Stephanie Mehta, editor-in-chief of Fast Company. Our journalists, under the leadership of senior editor Morgan Clendaniel, have discovered some of the most groundbreaking projects that have launched since the start of 2020.
For more information on OpenInvest, its Divest from the Prison Industrial Complex cause or its other value-based causes, visit OpenInvest.com.
About OpenInvest
OpenInvest is a values-based financial services company that helps advisors engage their clients and grow their business. We offer environmental, social, governance (ESG) investment management products and impact reporting services. Our investment management solutions use proprietary technology to seamlessly create low-cost investment portfolios tailored to our clients values while tracking market indices. Our sophisticated impact reports reflect the tangible impact our clients portfolios have on the world. Funded by YC and Andreessen Horowitz, OpenInvest is one of the only VC-backed Public Benefit Corporations. Learn more at openinvest.com.
About the World Changing Ideas Awards
World Changing Ideas is one of Fast Companys major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to start working on solving the problems that affect us all.
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