At Swell, we select our holdings because of their social impact as well as their financial performance. In the same way that we make it a priority to share our portfolios’ financial performances, we also like to share the steps our holdings are taking to make the world around them a better place.
Like all forces for change, the work doesn’t happen one time or overnight. It’s a series of small steps and achievements. Here are some of the recent highlights in our holdings’ exciting work for social change:
What is ABB?
ABB is a company that provides “electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry, and transport and infrastructure.”
ABB’s charging stations for electric vehicles are helping the country of Iceland move towards sustainable entry. Yes, you read that right: a whole country. Iceland has recently made a huge push towards sustainable forms of energy, motivated by the fact that the country was overly dependent on foreign oil sources.
Given that twenty-percent of the country’s energy still comes from fossil fuels, they are working to implement government-backed incentives for electric cars. That’s where ABB comes in. The country has installed twenty ABB chargers along the famous Route 1 highway. Though one road might not sound like a lot, it’s the structural backbone of the country in addition to being a scenic destination for tourists. This makes owning an electric vehicle more accessible and convenient, helping Iceland move to a brighter future.
What is Owens Corning?
Owens Corning makes materials for insulation, roofing, and composites. With over 19,000 employees working across thirty-seven countries, Owens has the opportunity to make a big impact.
We’re not the only people taking notice of the exemplary work that Owens Corning is doing. The company was just ranked third Corporate Responsibility Magazine’s list, “100 Best Corporate Citizens.” The magazine judges performance in a number of areas, including the environment, climate change, employee relations, and human rights. Owens stood out in all these categories. Cheers to the recognition on their stellar work! We’re looking forward to seeing what else Owens has in store for the future.
What is Edison International?
Edison International generates and distributes electronic power. They also make it a priority to invest in renewable energy.
One of the challenges of sustainable forms of energy is that due to its price point, it’s easier for more affluent people and communities to implement it. In order to help change that, Edison International has brought a solar program to the Village at Beechwood. The Village at Beechwood is a low income housing community that is home to 100 limited-income families.
The improvements include “the addition of a solar water heating system and the installation of an 84-kilowatt rooftop solar system on the community’s shared roof. The retrofits included energy-efficient appliances, sealing ductwork.” The changes benefit all 100 of the families through bill credits on the individual electricity bills for each resident. This project epitomizes the saying “think global, act local,” and it has us wanting to do more in our own communities.
For more news about the work each of our holdings is doing, check back soon. There’s always something new to celebrate!