Some social-investing specialists say divestment still has a key role.
Amy Domini, a pioneer of the movement, recalls that in the 1980s divestment helped end apartheid in South Africa. Domini, whose Domini Impact Investments manages $2.4 billion, sees parallels today.
“It is morally wrong to invest in guns just as it was morally wrong to invest in South Africa,” she said. By ostracizing gun makers investors are changing the conversation about what is appropriate, according to Domini. As evidence that investors are being heard, she cites the roster of companies that have ended affiliations with the National Rifle Association since Parkland.
‘Healthy Society’
While Calvert’s Streur is convinced engagement is the best approach, he said investors may need to focus on stakes in companies that seemingly have nothing to do with guns, such as Apple Inc. or Facebook Inc., to maximize their clout.
Such companies, he said, have the expertise to tackle issues such as tracking gun and ammunition purchases, and the influence to change how gun violence is portrayed.
“Large companies have a stake in a healthy society in the U.S.,” Streur said. “We think it is within reason -- and good for their brands -- if they use their voices to chip in and help solve the problem.”
This article was provided by Bloomberg News.