A new index tracking the global list of publicly traded plant-based stocks has just been launched, offering users a simple and accessible way to overview the burgeoning sector. Described as the “vegan Dow Jones”, VegTech, The Global Vegan Impact and Innovation Index (VEGT), currently features 21 companies and will be reporting monthly to reflect the investment sentiment and health of the industry.
Launched on Monday (March 1), VegTech consists of 21 global firms, including two SPACs or blank check companies, and tracks the stocks of these publicly traded plant-based companies in a simple figure that indicates the overall health of this market. VegTech was created by Elysabeth Alfano, founder of Plant Powered Consulting, and investor Sasha Goodman, who together wanted to create a portfolio of stocks that was 100% animal-free and could overview and follow the growth of the rising industry and their innovations.
Among some of those on the list include food tech giant Beyond Meat, Israeli cultured meat startup Meat-Tech 3D, plant-based blank check company Natural Order Acquisition Corp., as well as climate-forward companies like electric car maker Tesla and indoor farming tech venture AppHarvest, who recently welcomed former Impossible Foods CFO David Lee to lead its strategy and operations.
I wanted to track these stocks that reflect a burgeoning industry bent on innovating for progress for the good of people, the planet and animals.Elysabeth Alfano, Co-Founder, VegTech
There’s also SavorEat, the Israeli food tech 3D-printing plant-based meat, Japan’s NextMeats who recently made headlines for debuting the world’s first vegan yakiniku barbecue steak, and The Very Good Food Company, the Canadian firm behind The Very Good Butchers and recently acquired The Cultured Nut.
Companies that make it on the index must meet two criteria. Firstly, they need to be working towards animal-free advancements or an alternative to an industry that is reliant on animal agriculture, and cannot be involved in producing any animal products, animal testing or the displacement of wildlife.
The index will…hopefully encourage companies that are close to being included, but have not yet fully dropped meat or dairy, to consider [the] same.Elysabeth Alfano, Co-Founder, VegTech
The index, which started at 1000, is currently in beta mode, and is up 6.55% for the month of February to 1312. In January, VegTech stood at 1231, representing growth of 23.11%. VegTech will offer monthly reporting on the gains and losses of the market-weighted list.
Commenting on the launch, Alfano wrote on her website that she wanted to create such an index to “reflect a burgeoning industry bent on innovating for progress for the good of people, the planet and animals”.
But beyond that, Alfano hopes the index will “encourage companies that are close to being included, but have not yet fully dropped meat or dairy, to consider [the] same”.
In a social media post, VegTech says that the index serves users who are “looking for a simple way to understand the health and invest-ability of the publicly traded, plant-based sector”, describing the platform as a “vegan Dow Jones”.
Lead image courtesy of Mark Lennihan / Associated Press.