With influential US corporations discontinuing their diversity, equity and inclusion (DE&I) programmes, and disbanding their DE&I teams following the inauguration of Trump. Our new interest group, explored the importance (or otherwise) of People Value within an organisation and its potential impact on performance outcomes.
In a podcast with Joe Rogan in January, Mark Zuckerberg called for more “masculine energy” in the workplace, saying: “I think having a culture that celebrates the aggression a bit more has its own merits”. Yet research suggests a focus on DE&I may, in fact, lead to better outcomes. Recently, for example, Moody’s found a company board's diversity, particularly its gender and ethnicity, correlates positively with credit ratings for developed economies and companies in America. Is DE&I more than simply a ‘woke’ trend?
In this panel debate, Jupiter Asset Management’s Chief Executive Officer, Matthew Beesley, described the approach Jupiter take to DE&I internally and how they consider people values when investing on behalf of their clients. Anders Rodenberg, of Denominator, then outlined how asset owners can benefit from an analytical diagnosis of their portfolios using people value screens, describing their work with Nordic funds. Lindsey Bass, of ImpactA Global, Ambassador of the Diversity Project and Member of the Asset Owner Diversity Charter Advisory Board, described resources available to pensions funds and asset owners, which can help them progress DE&I beliefs in underlying investments. Finally, Karen Shackleton, our host, talked about Pensions for Purpose’s DE&I research findings, and set out the plans for our Ecosystem Theme of People Value over the next 12-18 months.
We then broadened the discussion for other delegates to share insights and views. We welcome those with different perspectives and are keen to hear from asset owners. All views will be listened to respectfully.
Agenda
10:00 Introduction and housekeeping.
10:05 Panel discussion with expert speakers from across the industry.
10:30 Community Interest Group plan for the next 12-18 months.
10:.35 Q&A and a wider discussion hearing delegate insights and views.
10:55 Conclusion (finish at 11:00)
Objective
The session supported asset owners in embarking on a people-values-based journey, helping them enhance existing policies and processes while aligning more closely with their investment beliefs.
Outcome
Delegates heard different perspectives on DE&I, its impact on driving better outcomes for investors and practical guidance on conducting a baseline assessment of their investments using People Value.
Who was this event for?
This meeting was open to Pensions for Purpose members, including asset owners, advisers, consultants, professional trustees, legal professionals and government representatives
If your organisation is yet to join Pensions for Purpose you may attend one meeting before becoming a member.
Ecosystem Partner
Panel
Matthew Beesley, Chief Executive Officer, Jupiter Asset Management
Matthew was appointed Chief Executive of Jupiter in October 2022 having joined as Chief Investment Officer earlier that year.
With over 25 years of experience in the investment industry, he was previously CIO at Artemis Investment Management and before that Head of Investments at GAM Investments. From 2012 to 2017, he was Head of Global Equities and a portfolio manager at Henderson Global Investors, having previously managed global equities funds at Mercury Asset Management, where he started his career, JP Morgan Asset Management and Trinity Street Asset Management.
Matthew is a CFA Charterholder.
Anders Rodenberg, Chief Executive Officer, Denominator
Anders is the CEO of Denominator, the leading data provider for measuring social and diversity performance worldwide.
Before joining the company, Anders managed teams in Europe and was the Head of Financial Institutions & Advisory in North and South America for Moody’s Analytics’ data division. Anders is an experienced speaker and often consulted as a data subject matter expert for risk management, growth expansion, and social and diversity topics for global events during the United Nations General Assembly, the UN’s Conference of Parties and the World Economic Forum.
Anders lives in the US with Nordic origins in Denmark and Sweden.
Lindsey Bass, Fundraising and Head of Marketing, ImpactA Global, Ambassador of the Diversity Project and Member of the Asset Owner Diversity Charter Advisory Board.
Lindsay has extensive experience as a senior leader in the distribution of asset management products. She works for ImpactA Global, a women-led impact manager providing private credit for emerging market infrastructure projects. She was previously Head of Consultant and Professional Trustee relationships at Legal & General Investment Management. Lindsay’s experience in selling funds in the alternative investment industry has led to her extensive network and knowledge across investors and asset classes globally.
Lindsey also brings external governance and leadership experience, with a focus on DE&I, as former co-Chair of the Legal & General Inclusion Teams. She is an Ambassador of the Diversity Project and on the Advisory Board for the Asset Owner Diversity Charter. Separately, she is a Director of Rebel Consulting and is a Trustee for the Poppy Academy Trust, as well as being a Mental Health First Aider. Lindsey holds a BSc in Communication from the University of Leicester and is a holder of the CAIA and IMC.
Host
Karen Shackleton, Chair and Founder, Pensions for Purpose
Karen has worked in the finance sector for over 30 years. As well as being Founder of Pensions for Purpose, she is Chair of the Strategic Investment Board for the Ministry of Justice and a Non-executive Director and Chair of the Board of Resonance Ltd, a social impact investment company. She sits on the Advisory Council of the Impact Investing Institute.
Karen also provides independent investment advice to the London Boroughs of Islington and Camden through Apex Group. She was the Chief Executive/Managing Director of AllenbridgeEpic Investment Advisers from 2010 to 2013. Before that, she had 10 years’ experience as a fund manager and director for County NatWest and BZW Investment Management (now BlackRock).
Pensions for Purpose
Pensions for Purpose exists as a bridge between asset managers, pension funds and their professional advisers, to encourage the flow of capital towards impact investment. Our aim is to empower pension funds to seek positive impact opportunities and mitigate negative impact risks.
Our Community allows members to learn from leaders in the impact investment industry. We provide a trusted environment to interact, collaborate and share knowledge. Members engage in a programme of activity to shape their strategy in ESG, sustainable and impact investments.
For more information, please email the Membership Manager.
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