Diversity for all.
The President of the NAACP, Derrick Johnson, sat down with TheStreet for an interview at the Yahoo Finance All Market Summit.
Johnson spoke about diversity in corporate settings as well as the NAACP's newest ETF, which was launched in July.
"To ensure diversity, both gender and race is very important, particularly with policy-making boards to consider issues that will be more inclusive and supportive of all communities," said Johnson.
Johnson explains that the market inclusion was why the NAACP teamed up with Impact Shares to create the ETF, which is called The Impact Shares NAACP Minority Empowerment ETF.
"One of the reasons that we established the ETF is to create a market incentive for boards to require C-suite diversity," Johnson told TheStreet.
The ETF is traded under (NACP) . Companies in the fund include Amazon (AMZN) , Microsoft (MSFT) , Johnson and Johnson (JNJ) , JPMorgan Chase (JPM) and Alphabet GOOG. The fund is up about 4.2% since it started in July.
"The NAACP for many years did an industry report...we realized we needed to step up the game. We partnered with a fund manager," Johnson added.
The NAACP has a list of requirements for the companies, which include, "board diversity, procurement diversity, C-suite diversity...our opinion at NAACP is the more diverse a company is, the greater the likelihood that there's a positive experience for all customers."
Johnson hopes that this new approach will help to keep companies accountable.
"I can see areas where we haven't gone in the most positive direction, and areas where we've gone in a really good direction. The real question is now, what's the market-driven course to maintain equality across all boards," he said. "We've had three decades of trusting without outcomes, there should always be criteria so that the best qualified individuals are able to serve."