Progressive Asset Management (PAM), a US-based investment firm specialising in socially responsible investing, has formed an alliance with Sustainable Systems to develop an online trading system for ethical investors.
The ProgressiveTrade system will offer investors a way to create and apply their own social and environmental screens to evaluate investments and then execute trades in those investments through one or more affiliated online brokerages.
The two companies are forming a new company to run the ProgressiveTrade system. At formation, PAM will own 70% of the new company's stock.