In our own evolution of working to advance economic opportunity for all, the NAACP recently partnered with Impact Shares, Inc. in the launch of the NAACP Minority Empowerment Exchange Traded Fund (ETF)–a new tool that scores and ranks companies on the S&P 500 based on their commitment to diversity and inclusiveness.
The ETF was created using NAACP’s corporate scorecard model to hold corporations accountable through a market-driven approach. The NAACP does not manage the fund, nor do we score or rank the companies. We contributed the criteria to score and rank companies on the S&P 500 based on factors including board and supplier diversity and community involvement.
The ETF, managed by Impact Shares and follows the Morningstar Minority Empowerment Index, will only invest in companies that not only do well financially but also actively promote racial and ethnic equity in every aspect of their business.
It is also worth noting that NAACP is not a publicly traded company, but we have now associated our iconic brand with a publicly traded financial tool for corporate engagement. The ETF represents an evolution of our advocacy that began with efforts like Project Fair Share and our Economic Reciprocity Initiatives. Because of this new tool, several corporations listed have reached out to the NAACP to inquire about improving their areas of operations like supplier, board, and c-suite diversity.