2022: Another Year of Impact
Tuesday, January 24, 2023
January 2023
2022: Another Year of Impact

2022 was a great year at Ethic. We surpassed $2 billion in assets under management (AUM) and announced our $50 million Series C funding. But the year also had its challenges, including the unprecedented reversal of Roe v. Wade. And conflict impacted some of our colleagues based in Ukraine

Despite the challenges, the Ethic team showed their dedication toward building a future where all investing is sustainable investing. Here are some of our highlights:

Ethic clients had major impact

In 2022, Ethic clients collectively reduced their CO2 “ownership”* by a total of 167,173 metric tons (MT) – that’s roughly the equivalent of emissions from over 36,000 gasoline-powered cars driven for a year. 167,173 metric tons is also equivalent to carbon sequestered by over 2,760,000 tree seedlings grown for ten years! 

Additionally, clients saw reductions across other issues that countered their values, such as:

  • +133 million scuba tanks reduced in air pollution “ownership”
  • +2 billion household trash bags reduced in hazardous waste “ownership”
  • +132 trillion gallons of gas reduced in gas and oil “ownership”

Our clients also sought to be active and engaged shareholders, voting according to their values on over 26,000 proposals across more than 2,600 companies.

We've continued our work on accelerating sustainable behavior with Sustainability for Everyone and working on personalized tools and guides for understanding and reducing your home energy use.

Our team had a growth spurt

On top of growing our AUM,  Ethic’s family grew by:

  • 25 teammates
  • 6 interns
  • 5 (human!) babies
  • 7 office dogs

We moved into a new office

In September, we moved into a new office that we’ve been working hard to make sustainable. We conducted trash audits, introduced office composting, and created Ethic recycling signage. 

“So proud of our team for launching compost in the office!” said Crystal Sun, sustainability data and analytics associate at Ethic. “I'm excited to see what's next in our zero waste journey.”

At Ethic, we’re sentimental, so we didn’t fully say goodbye to our old home. Instead, we converted it into the new Ethic Studio, which has already produced 56 videos

Through it all, we had a lot of fun

With 17 team events, we looked for any opportunity to celebrate the people and growing community at Ethic. Our workplace culture didn’t go unnoticed. Arizent and Best Companies Group named Ethic a “Best Place To Work in Fintech”* for the second year running. 

Anthony Marcozzi, senior relationship manager at Ethic, summed up what many of us at Ethic feel: “I’m proud of the workplace environment we continue to build that allows people to bring their true selves to work everyday. We support each other as humans, not just co-workers and that makes all the difference.”

Mattias Wikman, our head of design, added: “I’m amazed of the things our teams have accomplished. There’s genuine passion for our mission and everyone treats each other with all this respect.”

As always, we are thankful for this team and the support of our broader community. We’re excited for what 2023 has in store for us, and are looking forward to continued growth and impact this year.

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Sources and footnotes

* All metrics as of Dec 31, 2022. “Ownership” is calculated daily by adding up the daily % of Carbon Emissions Ethic clients “owned” based on the % of each company owned summed across all Ethic clients’ portfolios compared to what would have been owned in the benchmark based on the original portfolio weights.

*“The 50 companies that made American Banker’s annual list are being recognized for establishing strong workplace cultures, offering robust benefits packages and giving employees the room to do their jobs well.” American Banker requires a membership to view the full linked article.

Ethic Inc. is a Registered Investment Adviser located in New York, NY. Registration of an investment adviser does not imply any level of skill or training. Information pertaining to Ethic Inc’s registration or to obtain a copy of Ethic Inc.’s current written disclosure statement discussing Ethic Inc.’s business operations, services and fees is available on the SEC’s Investment Adviser Public Information website –www.adviserinfo.sec.gov or from Ethic Inc. upon written request at support@ethicinvesting.com. Information provided herein is for informational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Any subsequent, direct communication by Ethic Inc. with a prospective client shall be conducted by a representative of Ethic Inc. that is either registered or qualifies for an exemption or exclusion from registration in the state where a prospective client resides. Information contained herein may be carefully compiled from third-party sources that Ethic Inc. believes to be reliable, but Ethic Inc. cannot guarantee the accuracy of any third-party information.

Ethic Inc. does not render any legal, accounting, or tax advice. Ethic Inc. recommends all investors seek out the services of competent professionals in any of the aforementioned areas.  Ethic Inc. cannot provide any assurances that any investment strategies, simulations, etc. will perform as described in our materials. ALL INVESTMENTS INVOLVE RISK, ARE NOT GUARANTEED, AND MAY LOSE VALUE. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY.

Contributors

Carsyn Bernhardt is a marketing associate here at Ethic. She previously worked at Wine To Water, a global water nonprofit, and Global Imprint, an ESG consulting firm, where she developed content, marketing strategy and managed client brand projects.

Lily Louis is a product manager on the sustainability team. Previously, Lily interned with Ethic on the sustainability research team while studying for her B.A. in Philosophy, Politics and Economics at Brown University.