This article was originally published in Businesswire. Whatever works . . .
A coalition of global investors, managing over US $73 billion in assets, called on companies across the world today to increase representation of qualified women on boards of directors and in senior management. The call from Pax World, Calvert and Walden Asset Management, comes in response to a survey of 4,200 global companies that found only 9.4 percent of directors on corporate boards were women.
These findings have led a number of mainstream investors to identify gender balance and diversity as a strategic issue in their investment activity. The investors in this new coalition have asked 54 selected companies from across the business spectrum for greater clarity about gender balance within their organizations.
“We view gender equality and women’s empowerment as strategic business and investment issues,” said Joe Keefe, President and CEO of Pax World. “When women are at the table, the discussion is richer, the decision-making process is better, management is more innovative and collaborative and the organization is stronger. Because companies that advance and empower women are, in our view, better long-term investments, we are encouraging companies in our portfolios to enhance their performance on gender issues.”
The investor initiative is a response to the Women’s Empowerment Principles1 recently developed by the United Nations Development Fund for Women (UNIFEM) and the United Nations Global Compact. The Women’s Empowerment Principles are designed to help companies take specific steps to advance and empower women in the workplace, marketplace and community.Read More