How ethical finance can lead to change in the world - Pioneering People podcast
On the fourth episode of the new Pioneering People podcast series, host Morven McIntyre is joined by Georgia Stewart, co-founder and CEO of financial tech business, Tumelo.
Georgia's interest in ethical finance began early. Whilst studying at Cambridge she joined a campaign called Positive Investment which aimed to secure a more transparent approach to the university portfolio.
Tumelo’s aim is to help individuals - people who have money invested in a pension or money invested in the stock market - to understand where their money is going when they are making an investment.
The business partners with investment platforms and pension providers to engage investors by giving them a more transparent view of the companies they own and a shareholder voice on issues they care about.
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Georgia says: “Big companies feel a bit untouchable sometimes, you feel like you can't affect the way that Facebook operates but actually through your investments and your shares - you actually can. That's really what we are trying to help you do through our platform.”
Votes hosted through the platform have included issues such as whether luxury sports brand Lulu Lemon’s should use man-made materials instead of duck feather, or whether Proctor and Gamble are doing enough in the area of deforestation.
The environmental, social and corporate governance sector is growing and Tumelo’s success reflects this, with 20 angel investors including former Genesis frontman Peter Gabriel.
When asked about why transparency in investment is important Georgia says: “Very few people think about their finances as a factor for change when actually they are critically important. If you are trying to reduce your carbon footprint your investments are the first thing you should look at.”
“You could be vegan and cycling but if you are invested in companies that are funding the meat supply chain in America then that looks quite hypocritical. But that’s not your fault - you can't see what you are invested in.”
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