Ethical Investing for Pride Month: 10 Gay-Friendly Stocks To Buy
In the not-too-distant past, there was no such thing as an “LGBTQ-friendly workplace.” And although there’s still a lot of work to be done in this area, there are now literally hundreds of employers committed to LGBTQ inclusion and equality.
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In fact, according to the Human Rights Campaign, there are 767 places designated as the “Best Places To Work for LGBTQ Equality” in 2021. Ten of those names appear in the list below if you're looking to invest somewhere that is working toward LGBTQ equality.
Last updated: June 4, 2021
Alphabet Inc. (GOOG)
Stock price as of June 2: $2,421.28
Google, now trading under parent company Alphabet, has long been a strong supporter of the LGBTQ community, with even its ads reflecting its efforts at diversity. The company has a specific support group for the LGBTQ community, known as “Gayglers,” and it sponsored a trip for more than 60 of its LGBTQ employees and managers from 26 countries to Warsaw, Poland, to help explore diversity issues in Central and Eastern European regions.
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International Business Machines Corporation (IBM)
Stock price as of June 2: $145.72
IBM was one of the first companies to include sexual orientation in its nondiscrimination policy, back in 1984. The company established its Global LGBT Council, designed to make the workplace safe for everyone, in 1995. The following year, IBM became the largest company at the time to provide benefits for domestic partners. IBM has multiple campaigns to support diversity and equality, including its “Be Equal” initiative, which strives to provide an open and welcoming environment regardless of sexual orientation, gender expression or gender identity.
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Visa Inc. (V)
Stock price as of June 2: $229.66
Visa has appeared on the Human Rights Campaign’s Corporate Equality Index for five years running, marking it as one of the best places to work for LGBTQ employees. Visa supports the United Nations Standards for LGBTI, which outlines five standards of conduct that the business community can use to combat discrimination against lesbian, bi, gay, trans and intersex people. Visa has also joined the Human Rights Campaign’s Business Coalition for the Equality Act, which aims to provide the same basic protections under federal law to LGBTQ individuals as with other protected groups.
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The Charles Schwab Corporation (SCHW)
Stock price as of June 2: $74.93
Schwab has received a 100% rating on the Human Rights Campaign’s Corporate Equality Index for LGBTQ+ inclusion for over 15 years. In addition to striving for a diverse and supportive workforce, the financial services company also develops educational content tailored to the needs of specific communities, including the LGBTQ+ community. The company has installed gender-neutral restrooms in some locations, and it supports and volunteers for many different LGBTQ groups across the country. Internally, Schwab has created a diversity and inclusion group known as PRIDE, dedicated specifically to the LGBTQ+ network at Schwab.
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The Coca-Cola Company (KO)
Stock price as of June 2: $55.50
Coca-Cola prides itself on its diversity and inclusion. The company has scored 100% on the HRC’s Corporate Equality Index every year since 2006. Coca-Cola has also designed a separate Business Resource Group specifically to address LGBTA issues. Other LGBTQ-focused resources that Coca-Cola supports include the Gay & Lesbian Victory Fund and The Trevor Project.
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PayPal Holdings, Inc. (PYPL)
Stock price as of June 2: $262.17
PayPal is another company scoring a perfect 100% on the Human Rights Campaign’s Equality Index, and it strongly promotes LGBTQ rights. The company has a benefits flyer that outlines all its health benefits for transgender employees, from hormone replacement therapies and voice modification surgery to therapy sessions and more. PayPal Pride is a workplace community that supports the well-being of its LGBTQ family through awareness, sensitivity and outreach.
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Microsoft Corporation (MSFT)
Stock price as of June 2: $274.30
Microsoft and its employees have donated over $2 million to organizations supporting the LGBTQI+ community just over the past year. The company contributed an additional $150,000 to organizations such as The Trevor Project, OutRight Action International and Act To Change, in addition to the ACLU. Microsoft has received a perfect 100% score on the HRC’s Equality Index for 13 years running.
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Target Corporation (TGT)
Stock price as of June 2: $228.38
Inclusivity is one of the core corporate beliefs at Target. As with many of the other companies making the HRC Equality Index, Target has signed the Equality Act. Target has developed its own PRIDE Manifesto, designed to emphasize the company’s dedication to equality. Target also produces clothing and other products indicating its backing of the LGBTQ community.
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Starbucks Corporation (SBUX)
Stock price as of June 2: $113.00
Starbucks’ self-described history of LGBTQ inclusion states that “For more than three decades, Starbucks has been committed to building a culture where everyone is welcome. We stand as an ally to the lesbian, gay, bisexual, transgender and queer community – affirming every way people may choose to identify.” In addition to receiving a perfect 100% score on the HRC’s Equality Index for 11 straight years, the company has recently donated $50,000 to the Lavender Rights Project to help transgender people and members of other marginalized communities obtain low-cost legal services.
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Apple Inc. (AAPL)
Stock price as of June 2: $125.06
Apple isn’t just the largest company in America, it’s also one of the most consistent supporters of the LGBTQ community. Apple has been rated a best place to work for the LGBTQ community for 15 years straight. The company supports a number of LGBTQ advocacy organizations, including the National Center for Transgender Studies and Encircle, which offers safe spaces for the community. For Pride Month 2021, Apple released two new Apple Watch Pride bands, in addition to a new Pride watch face.
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This article originally appeared on GOBankingRates.com: Ethical Investing for Pride Month: 10 Gay-Friendly Stocks To Buy
