Harry and Meghan-backed ‘ethical’ investment group has put tens of millions into chemical and oil companies
THE “ethical” investment group backed by Prince Harry and his wife Meghan has put tens of millions into chemical, pharma and oil companies.
New York-based Ethic, which unveiled the Sussexes as impact partners, has also poured cash into rich investment banks.
Paperwork filed in the US shows it invested around £1.1million in chemical firm Corteva Inc.
This spin-off from scandal-hit firm DuPont, made infamous in 2019 movie Dark Waters, is being sued in California over use of a pesticide linked to brain damage in kids. Corteva insists it is safe.
Ethic has also invested in one of America’s largest crude oil producers and a firm accused of pricing UK patients out of a cystic fibrosis drug, filings show.
Royal author Penny Junor said: “Life is going to be very difficult for Meghan and Harry if they keep up this high profile. Ethical banking seems asking for trouble, setting themselves up for a fall.”
Harry, 37, and Meghan, 40, were announced on Tuesday as investors in Ethic, which has £950million under management.
The company, co-founded by former British private schoolboy Jay Lipman, 33, said it invites clients to create their own portfolios that reflect their “unique values and financial priorities”.
It claims to help investors screen companies on criteria like racial justice, climate change and workplace standards, such as gender equality and fair pay.
Ethic said: “We allow clients to choose the environmental, social and governance issues important to them, then help them create custom portfolios based on their preferences — not ours.”
A spokesman for Harry and Meghan would not comment.
