As Prince Harry and Meghan Markle continue to build their life in the U.S., they pair have just signed up for a brand new business venture. The royal couple have joined Ethic, a $1.3 billion sustainable investing fund, as “impact partners”.
In a statement on their Archewell website, the Sussexes explained, “We believe it’s time for more people to have a seat at the table when decisions are made that impact everyone. We want to rethink the nature of investing to help solve the global issues we all face.”
Ethic, founded in 2015, aims to help customers align investments with their ethical convictions. In a 2020 report, the Global Sustainable Investment Alliance (GSIA) found a growth of 15% in sustainable investments in the past year. Environmental, Social and Corporate Governance (ESG) investing is becoming part of the financial landscape, with $35.3 trillion in assets already.
The Sussexes have always been vocal on a range of social issues, from Black Lives Matter to mental health to vaccine equality. As they stated on Archewell, “Our impact partnership with Ethic is one of the ways we put our values in action.”
Alongside their production company, Archewell Productions, which works in collaboration with Spotify and Netflix, this is a new direction for the royal couple. In a statement released by Ethic, the company outlined the deep commitment the Sussexes have to “addressing the defining issues of our time – such as climate, gender equity, health, racial justice, human rights, and strengthening democracy” and their understanding that “they are all interconnected.”
“Now they want to shine a light on how we can all impact the causes that affect our communities, bring transparency into how the corporate world sets the tone and shapes outcomes for everyday families, and believe that more people should have a seat at the table when it comes to making progress,” Ethic continued.
Ethic also clarified that Harry and Meghan have invested in and have investments managed by the company.
The royal couple hope their involvement with Ethic this will encourage younger generations to think about sustainable investing. Speaking to the New York Times about their decision, Harry and Meghan spoke of their hopes about “younger people [being] more deliberate in their choices and conscious of investing in sustainable companies.” Both Ethic and the Sussexes emphasised the impact young people already have when they choose which companies they buy and choose from.