March 27

Finally Some Good News On Coronavirus From Sustainable Investors In New York City

By Bhakti Mirchandani

While New York Governor Andrew Cuomo’s order for non-essential workers to stay home last Friday was critical to flatten the coronavirus curve, it is also damaging businesses and costing jobs. With an estimated 750,000 jobs and $1.5 to 2 billion in monthly wages already lost in the New York City alone, according to James Parrott of the New School’s Center for New York City Affairs—a New York-based investor group is leading an initiative to help.

Domini Impact Investments, Interfaith Center for Corporate Responsibility (ICCR), and Office of the New York City Comptroller Scott M. Stringer are leading a group of 195 institutional investors and investor networks with over $4.7 trillion of assets under management to urge the business community to consider five steps to limit the damage that coronavirus is causing to the global economy. Domini CEO Carole Laible explains: “We knew we had to do something, and clearly investors around the world felt the same way. The number of firms that contributed to the statement and signed on in less than a week speaks to the urgency.”

Photo courtesy of Hans.

Source: Forbes (link opens in a new window)

Coronavirus, Investing
impact investing