Decide on not doing Harm to People decide on not doing Harm to Workers Decide on Fair Treatment of Workers: Equality & Diversity Decide on investing in Basic Needs & Impact Tech Decide on investing in Scaling & Efficiency HOW TO GUIDE: sources, standards, indices, ratings & rankings

1. Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.1

2. DECISION TREES IMPACT INVESTING
Decide on not doing harm to people,
thus not to invest in products that are
dangerous and can harm people.
Because of the horrifying damage to
people 11 countries have legislation and
another 30 have interpretative statements
prohibiting investment in controversial
weapons such as anti-personnel mines &
cluster ammuniton (submunition).
Easy to exclude also through ready-made
investment products are AGTAF funds:
Alcohol, Gambling, Tobacco, Adult
Entertainment (Porn) and Firearms.
A soaring divestment movement excludes
Fossil Fuel, CO² & Carbon producing &
emitting industries.
There are dozens of do not invest issues
excluding harmful industries to protect
people, communities, 'no go' area's,
animals & the planet. (see next page).
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.2

3. FAGTAF becomes Alfabet Soup
A fast way to check companies active in
harmful issues is the CSRHub.com
database of 17.000 companies. It lists 17
issues, negative such as Child Labor
Involved. Also positive: Working Mother
or GLBT (Gay,Lesbian,Bisexual, Trans-
gender) Friendly. List, Descriptions &
Links to involved companies:
https://esg.csrhub.com/csrhub-special-issues
YahooFinance gives online data on
2000 companies on 14 issues from
Sustainalytics. Note that it might state
'no controversies' wit the check 'animal
testing'. e.g. for Danone. Yahoo Finance
& Sustainalytics aim to include funds,
investment products controversies as
well.
Roboadvisors offer exclusion choices
such as Open Invest.ca excluding
companies (>5% revenue) to: Fight Gun
Violence & Take Down Big Tobacco.
Odd that 'junk'' & high sugar content food
& drinks are never mentioned....
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.3

4. Decide on not doing harm to working
people, thus not to invest in companies
that do not protect and take care of their
workers (families) if the worst happens.
Every workplace has its own risks from
where, how and what people work with.
Think mining, oil rigs, chemical plants,
construction, bike couriers, street
sweepers, office & shop staff....
Health & Safety (H&S) policies, records
& ambitions can be found on company
websites integrated reports & databases.
Labor Unions & Investment Advisors
monitor companies, sectors and specific
issues. H&S is part of ESG: Environment,
Social & Governance (GRI) reporting by &
on companies. Yahoo Finance offers
Sustainability data & benchmarks ESG.
Check out online benchmarks of the
worst, safest & best workplaces their
methodology and intentions. E.g. Fortune
Corporate Knights & Glassdoor.com
Thematic investment products & indices
(lists) e.g. the Parnassus Endeavour Fund.
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.4

5. Decide on investing in fair treatment
of workers by 'inclusive' companies that
give their team equal opportunities.
The most used terms are Equality &
Diversity, refering to respect for Human
Rights in the workplace & community.
It focuses on (not) discriminating based
on e.g. age, disability, gender (identity),
race, religion or belief, and sexual
orientation. The themes are part of
the 'do no harm' controversies universe
shown before and select companies that
promote inclusiveness. E.g they define
targets & monitor the progress on % of
disabled employees, women managers,
coloured entrepreneurs in the supply chain
etc. For companies delivering consumer
products marketing is an important tool to
reflect their inclusiveness goals & values.
Check company data & ESG reporting by
& on companies and specific issue
benchmarks e.g. Ratesustainability.org
Hub offers 650 ratings, rankings & indices.
There are numerous inclusive, E & D
investment products & indices.
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.5

6. Decide on investing in Basic Needs
& Impact Tech companies.
Key Words: Availability & Affordability
BASIC NEEDS are Work & Income in
Inclusive Finance, Nutritious Food, Clean
Water & Hygiene, Safe Social Housing,
Affordable Healthcare, Education &
Training, Public Transport, Access to Clean
Energy, Community Development, Culture
& Beliefs....
Impact P's : Place, Product, Paradigm,
Process & Planet. (BrianTrelstad, HBR)
Examples: micro- & mesofinance for
impact, smallholders farming & off grid
solar in developing countries, women &
SME entrepreneurs, underserved
communities....
Impact Tech: Crowdfunding for Impact:
Agritech, Biotech & Healthtech, e-Health,
e-Education & Infotainment; Green &
CleanTech, AI, Big Data, Robotics, SaaS,
Internet of Things for impact; Apps
connecting people and / or connecting
them to Impact Services & Products....
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.6

7. Decide on investing in Scaling &
Efficiency. To achieve 'global access to
basic needs' scaling is essential as is
radical resource efficiency (including
capital investments) and sustainable
production & consumption. UN #SDG12
A growing & ageing global population
requires 'frugal innovation' to provide
basic needs to all and give equal access
to opportunities.
Technological progress holds the promise
to make this possible, but needs steering
towards the United Nations Global Goals.
Every technology has impact potential, it
is important to discourage harmful
applications, encourage revenue making
pipelines serving e.g. Middle Income
groups to break even & support research
& innovation towards positive inclusive
impact for the Base of the Pyramid.
Investing in efficiency is investing in
sustainable production & consumption for
inclusive societies.
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.7

8. The HOW TO Guide: Sources for Research
CONTROVERSIAL WEAPONS (countries)
Note that some fund managers & distributors
claim ''exclusion'' strategies when compliant with
national legislation prohibiting investments in
controversial weapons.
http://www.stopexplosiveinvestments.org/
HARMFUL PRODUCTS & SECTORS
Free online database CSRHub (17.000 corps max
3 profiles per day): Animal Test User (companies
might outsource, but still use aminal testing),
Burma, Iran, Sudan involved, Child Labor, Coal,
Fracking, GMO, Military Contractor, Nuclear Power
(=CO² free), Oceana Red List, Pesticides &
Pollutants, Trump Involved...
Positive themes: Diverse Board, Gay Lesbian
Sensitive, Labor Union Supporter, Sustainable
Forrestry & Working Mother Friendly.
https://esg.csrhub.com/csrhub-special-issues &
links to companies connected with these issues.
Sustainalytics data for Yahoo Finance
Alcoholic Beverages, Adult Entertainment (Porn),
Gambling, Tobacco Products, Animal Testing, Fur
& Specialty Leather, Controversial Weapons,
Small Arms, Catholic Values, GMO, Military
Contracting, Pesticides, Thermal Coal & Palm Oil.
https://www.sustainalytics.com/press-
release/yahoo-finance-adds-sustainability-scores/
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.8

9. Controversy data is found under the heading Sustainability. An Example: Nestlé, targetted by a breast over baby
milk boycott campaign gets ''no controversies'' & high ESG-rating even though it is checked for 'Animal Testing' (as are
it's competitiors Unilver & Danone). Link https://finance.yahoo.com/quote/NESN.VX/sustainability?p=NESN.VX
SRI, Socially Responsible Investing, Robo Advisors offer a wide range of exclusion themes constructing your portfolio
(and positive inclusion portfolio's.) I mentioned OpenInvest's Fight Gun Violence & Take Down Big Tobacco.
Many SRI robo advisors also offer positive thematic portfolios such as Swell's Clean Water & Zero Waste.
Best of all, most have transparant portfolio's = leads! Swell Investing even offers MCSI ESG rating data on companies.
Most mentioned are:
Aspiration https://www.aspiration.com/
Betterment https://www.betterment.com/
CNote www.cnotegroup.com & www.mycnote.com
EarthFolio earthfolio.net
Grow Invest ? (Linkedin profile only)
Hedgeable www.hedgeable.com
Impact Labs www.impactlabs.com
Motif www.motifinvesting.com
OpenInvest www.openinvest.co
Prophecy www.prophecyimpact.com
Impact Investments www.prophecyimpact.com
Stash www.stashinvest.com
Swell www.swellinvesting.com
TIAA https://www.tiaa.org/public/land/personal-portfolio
WiseBanyan www.wisebanyan.com
WorthFM www.worthfm.com
Brian Walsh, Liquidnet monitors the market and wrote in Feb 2017: http://allthingsimpact.com/home/2017/2/17/all-things-
impact-for-feb-17-robo-advisors-for-good-fossil-fuels-are-legacy-funders-are-like-teenagers-when-facts-fail
In Nov 2017 Lena Backe wrote: https://news.impactalpha.com/eleven-online-platforms-that-let-you-yes-you-make-socially-
responsible-investments-right-now-d150e781fe46
Invest with Values looked 11 SRI robo advisors available in the USA their minimum investment, costs & fees and
(de)selection options: https://investwithvalues.com/news/socially-responsible-online-investment-platforms-current-landscape/
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.9

10. Risk Rater Morningstar has a Product Involvement Tool for professionals with 15 exclusion options.
https://corporate1.morningstar.com/ResearchLibrary/article/812380/morningstar-portfolio-product-involvement-
methodology/
Morningstar also has a free online available sustainability globes system (1-5) for over 20000 investment products:
http://news.morningstar.com/articlenet/article.aspx?id=745467
HEALTH & SAFETY
Health & Safety (H&S) for workers & their communities is one of the oldest social, socially responsible, corporate social
responsability themes. Thesedays there are few seperate online tools, indices, rankings and ratings on companies
performance. H&S data is fully integrated in Social (ESG) & Corporate Social Responsability (CSR) performance.
CSRHub offers companies' free online rating & ranking on 'Employees': The Employees category includes disclosure
of policies, programs, and performance in diversity, labor relations and labor rights, compensation, benefits, and
employee training, health and safety. The evaluation focuses on the quality of policies and programs, compliance with
national laws and regulations, and proactive management initiatives. The category includes evaluation of inclusive
diversity policies, fair treatment of all employees, robust diversity (EEO-1) programs and training, disclosure of
workforce diversity data, strong labor codes (addressing the core ILO standards), comprehensive benefits,
demonstrated training and development opportunities, employee health and safety policies, basic and industry-specific
safety training, demonstrated safety management systems, and a positive safety performance record.
ILO = International Labor Organization
The Training, Safety and Health subcategory measures a company’s effectiveness in providing a healthy and
safe workplace. This subcategory includes accident and safety performance, as well as job training, safety standards
and training, and employee-management safety teams. It includes programs to support the health, well-being and
productivity of all employees. This subcategory includes workplace policies and programs that boost employee morale,
workplace productivity, company policies and practices to engage employees, and worker development.
https://esg.csrhub.com/csrhub-data-schema?_ga=2.196460716.1884294451.1521804615-1954877018.1505293564
Occupational Health & Safety performance data are incorporated in the Global Reporting Initiative (403, effective
July 2018). Reporting Standards are issued by the Global Sustainability Standards Board (GSSB). GRI 400 = Social.
In the context of the GRI Standards, the social dimension of sustainability concerns an organization’s impacts on the
social systems within which it operates. The right to a healthy and safe workplace is recognized as a human
right and is addressed in various authoritative international instruments:
https://www.globalreporting.org/standards/gri-standards-download-center/gri-403-occupational-health-and-safety/
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.10

11. The reporting techniques are encouraged to rely on recognized frameworks such as GRI's Sustainability Reporting
Guidelines, the United Nations Global Compact (UNGC), the UN Guiding Principles on Business and Human Rights,
OECD Guidelines, International Organization for Standardization (ISO) 26000 and the International Labour
Organization (ILO) Tripartite Declaration (European Union) Source: Wikipedia.
The most recent, mid march 2018, is ISO Health & Safety Standard 45001 https://www.iso.org/iso-45001-
occupational-health-and-safety.html (replacing OHSAS 18001)
EQUALITY & DIVERSITY
Data on Equality & Diversity for workers & stakeholders is also integrated in Social (ESG) & Corporate Social
Responsability (CSR) performance.
CSR Hub rates Employees category includes disclosure of policies, programs, and performance in diversity, labor
relations and labor rights, compensation, benefits, and employee training, health and safety. The evaluation focuses
on the quality of policies and programs, compliance with national laws and regulations, and proactive management
initiatives. The category includes evaluation of inclusive diversity policies, fair treatment of all employees,
robust diversity (EEO-1) programs and training, disclosure of workforce diversity data, strong labor codes
(addressing the core ILO standards), comprehensive benefits, demonstrated training and development opportunities,
employee health and safety policies, basic and industry-specific safety training, demonstrated safety management
systems, and a positive safety performance record.
The Diversity and Labor Rights subcategory covers workplace policies and practices covering fair and non-
discriminatory treatment of employees, and its diversity policies. It covers a company’s labor-management
relations and participation by employees, National Labor Relations Board (NLRB) violations or patterns of anti-union
practice, conformance to internationally recognized worker rights, as defined in the basic conventions of the
International Labor Organization (ILO). Fundamental labor rights include freedom of association and protection of the
right to organize; right to bargain collectively; a minimum age for the employment of children; a prohibition against
forced labor; lack of employment and occupational discrimination; and equal compensation. This subcategory measures
a company’s ability to maintain diversity, provide equal opportunities regardless of gender, age, ethnicity,
religion or sexual orientation, and promote work-life balance.
https://esg.csrhub.com/csrhub-data-schema?_ga=2.196460716.1884294451.1521804615-1954877018.1505293564
Equality & Diversity standards & data are part of the Global Reporting Initiative (405, effective July 2018).
In the context of the GRI Standards, the social dimension of sustainability concerns an organization’s impacts on the
social systems within which it operates.
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.11

12. GRI 405 addresses the topic of an organization’s approach to diversity and equal opportunity at work.
When an organization actively promotes diversity and equality at work, it can generate significant benefits for both the
organization and workers. For example, the organization can gain access to a larger and more diverse set of potential
workers. These benefits also flow through to society in general, as greater equality promotes social stability and
supports further economic development. These concepts are covered in key instruments of the International Labour
Organization, the Organisation for Economic Co-operation and Development, and the United Nations: see the
References section of this Standard. The disclosures in this Standard can provide information about an organization’s
impacts related to diversity and equality at work, and how it manages these impacts. Additional disclosures that relate
to this topic can also be found in: GRI 404: Training and Education & GRI 406: Non-discrimination GRI 400 = Social.
https://www.globalreporting.org/standards/gri-standards-download-center/gri-405-diversity-and-equal-opportunity/
The GRI reporting techniques are encouraged to rely on recognized frameworks such as GRI's Sustainability
Reporting Guidelines, the United Nations Global Compact (UNGC), the UN Guiding Principles on Business and
Human Rights, OECD Guidelines, International Organization for Standardization (ISO) 26000 and the
International Labour Organization (ILO) Tripartite Declaration (European Union) Source: Wikipedia.
Equality & Diversity (E&D) is part of Social (ESG), Socially Responsible, Corporate Social Responsability (CSR)
themes and there are numerous (free) online tools, indices, rankings and ratings on companies performance.
RateSustainability is a research platform for the materiality of sustainability and has a HUB with over 650 indices
ratings & rankings http://ratesustainability.org/core/hub/ratings-directory/
http://ratesustainability.org/hub/index.php/search
Example: Women on Boards 2020 (%) https://www.2020wob.com/company-directory
4 categories: WINNING 20%+ Women, VERY CLOSE 11–19% Women, TOKEN 1 Woman & ZERO 0 Women
A subset of the 2020 Directory is the 2020 Gender Diversity Index (GDI) which is based on the 2010 Fortune 1000
list of companies. We track this group of companies from year to year, measuring the percentage of board seats held by
women. Utilizing the same list from year to year allows us to more accurately measure progress.
Others less transparant: Barclays Women in Leadership Index, Bloomberg Financial Services Gender-Equality Index.
Other rankings: AARP Best Employers for Workers Over 50, Vigeo EIRIS Corporate Human Rights Benchmark etc.
(100% transparant)
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.12

13. INTERNAL EMPLOYEES REVIEWS
Glassdoor.com: Company reviews and ratings. Get the whole story. Search ratings and reviews of over 600,000
companies worldwide. Get the inside scoop and find out what it's really like from people who've actually worked there.
Example: 10 Reviews at Glassdoor.com of the Global Reporting Initiative, Amsterdam.
https://www.glassdoor.com/Reviews/Global-Reporting-Initiative-Reviews-E958881.htm
BASIC NEEDS & IMPACT TECH
Examples of Basic Needs & Impact tech
sectors are on the left side in the Venn
diagram visual.
In the middle: Work & Income for
unemployed, vulnerable & underserved
people in developed & underdeveloped
markets.
Middle income groups are vital to scale
impact products & services through
healthy revenues.
On the right: leads can be found in SRI
& ESG Opportunities & Risk universe,
especially when they contain mid, small &
micro caps. But largecaps can be active in
R&D or acquiring #impinv opportunities.
Win-Win Checklists: 5 P's of Impact
Place, Product, Paradigm, Process &
Planet. (BrianTrelstad, HBR feb '16)
For small investors: Price (Affordable), Public (Available: listed or crowdfunding with investor protection), Impact
(reported & incentivised), Catalyst (for exponential growth) or Additional (for organic growth) & Risk related Return.
https://www.slideshare.net/alcanne/the-ideal-inclusive-impact-investment-product
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.13

14. Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.14

15. SCALING & EFFICIENCY.
For Global Access to Basic Needs scaling & efficiency are essential and best realised by 'Frugal Innovation'. Smart &
cheap for the many. Technological progress can make it happen when steered towards the United Nations Global
Goals. Technological innovation needs incentives towards positive impact, affordability & availability for healthy
revenues & exponential growth in stead of traditional high tech luxury models produced for tiny markets & trickle down
marketing. Impact Investment focus is on #SDG12: sustainable production & consumption for inclusive societies.
TRANSPARENCY
Insight isn the total return of investments is essential. Not mere profit for investors, shareholders & the supply chain,
but all costs for all stakeholders. Costs that Old Capitalism outsources to society, the environment & the future....
THEMES
Impact investing focuses on Basic Needs:
Work, Income & Access to Finance, Food, Water,
Housing, Healthcare & Education &
the UN Global Sustainable Development Goals.
TRENDS
Megatrends: Population Growth, Ageing in
Developed Markets & Youths in Developing
Markets, DEcoupling (Growth from waste & CO²
emissions & shrinking employment), DIScontent,
Radical Resource Eficiency, Recycling &
Circularity in Products & Services...
Technology: Robotics & Automation, Internet of
Things, Blockchain, Cyber Security, AI &
Roboadvisors... applied for impact.
Themes & Trends merge in exiting impact &
return opportunities such as Agritech, Biotech,
Cleantech, Crouwdsourcing, Edutech,
e-Education, e-Health, Fintech, Greentech,
Healthtech, Infotainment, SaaS, Webmining ...
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.15

16. Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.16

17. Please visit my Blogs, Tools & Thoughtpieces
&
BUY buy Hold Sell Impact Investment Ratings
https://impactinvestmentne.wixsite.com/alcanneimpinvenglish
or https://www.slideshare.net/alcanne/presentations
Please follow me on Twitter @alcanne
and https://nl.linkedin.com/in/alcannehoutzaager
YOU TUBE Vlogs & Animations
https://www.youtube.com/channel/UCWy9RStgcgCMe59mhcHsbQQ
PUBLIC SPEAKING & PANELS Marga van Miltenburg ZIJSPREEKT
https://www.zijspreekt.nl/sprekers/profile/Alcanne-Houtzaager-/721/
*Decision trees inspired by Arjen #ZondagmetLubach
Drs Alcanne J Houtzaager MA, Tools© & Thoughtpieces on Inclusive² Impact Investing p.17