Grow, a San Francisco-based fintech company that focuses on socially responsible investments, announced this week the launch of its ESG investment analytics tool. According to the company, the new Grow Analytics tool combines data from top ESG rating companies from around the globe to create a Grow Score, ranging from -3 to +3 which indicates how the companies are performing relatively to sector and industry standards.
Sharing more details about the tool, Anthony Randazzo, co-founder and chief technology officer of Grow, stated:
“What makes Grow Analytics truly distinct is that it aggregates multiple ESG data sources – filling gaps, removing biases, and providing one comprehensive Grow Score that indicates the sustainability of an investment at a glance. With time, these scores will change and demonstrate a company’s ESG progress, or lack thereof.”
John Boyer, head of Grow Analytics, also noted:
“Grow Analytics provides the foundation for other Grow products and services: using the most recent data available to create portfolios for Grow Invest, for our mobile app clients, and portfolios created by Grow Capital Management advisors for their clients. With increasing momentum toward ESG investing, we believe this multi-focused approach sets us apart and will identify us as ESG investment leaders.”
Grow added that the analytic platform was beta-tested by over 30 Registered Investment Advisors and institutional investors, including the State of Wisconsin Pension Fund.