Just Capital

Abstract

The case examines the development and launch of an exchange-traded fund (ETF) based on JUST Capital's socially responsible corporate ranking methodologies. The case provides a market overview of Environment, Social, and Corporate Governance (ESG) and socially responsible investing (SRI), what has driven growth in those areas worldwide, and several best-practice investment approaches. Following the overview, the case describes the founding and development of JUST Capital, explores JUST Capital's ranking methodologies, and presents the decision point faced by the CEO: requisite selection of one of three strategies in order for JUST Capital to generate "self-sustaining" revenue. Excerpt UVA-F-1844 Rev. Aug. 6, 2019 JUST Capital The truth is we need a more just marketplace if we are going to solve major social, environmental [and] health challenges. We believe in capitalism, and we think that businesses can and should be a force for good. —Martin Whittaker, CEO, JUST Capital In December 2017, the cover of Forbes magazine announced a list of “America's Top Corporate Citizens” (Exhibit 1). This list of companies, referred to as “the JUST 100,” was created by JUST Capital, a tax-exempt organization founded with the mission of building a more just marketplace. The JUST 100 was a list of public companies said to reflect the corporate attributes that Americans considered most just. . . .