Moola has launched ethical portfolios as a result of increased interest from customers in investing responsibly.
The new offering will use the same investment processes behind Moola’s existing service, with the added additions of ethical investment screening and the use of green bonds.
‘As investment technology shifts it makes complete sense that ethical portfolios should support all the same advanced services available for standard portfolios,’ said former Wealth Manager cover star and Moola founder Gemma Godfrey (pictured).
‘We are excited to offer a portfolio that excludes potentially harmful parts of the economy, such as weapons manufacture and promotes companies that are doing good whether in terms of environment or social impact.’
Investors can access the ethical portfolios with as little as £50.
The company said that the fees will remain the same on the ethical portfolios, however, there may be slightly reduced returns over time because the expense ratios of the funds used will be higher.
Moola is not the first robo to launch a socially responsible investment service. Canadian firm Wealthsimple launched a range of SRI portfolios in January, becoming the first to do so.
This is Moola's second launch in two months. Last month the online wealth manager also unveiled what it called 'tax aware' portfolios.
According to the firm, this means it considers 'tax consequences of proposed trades for all non-ISA portfolios'.
At the end of last year, Moola expanded its offering beyond investing purely in iShares products, adding three more exchange-traded funds (ETF) providers to its list: Vanguard, db x-trackers and Lyxor.