When it comes to implementing diversity, equity, and inclusion (DEI), there is no one-size-fits-all approach. Every region needs to consider its unique demography and legislative requirements and build its DEI strategy accordingly. While there have been remarkable advances in DEI legislation and investors are paying more attention to this topic than ever before, there is still a long way to go.
Today on the show, we are joined by Elena Espinoza, Senior Lead of Social Issues and Acting Head of Governance at Principles for Responsible Investment (PRI). Elena co-authored a recent report by the PRI outlining how investors can integrate DEI initiatives in their investment and ownership decisions. Tuning in, you'll hear Elena discusses the current state of DEI legislation, why achieving gender parity has been prioritized over other disparities, and why there continues to be a disproportionate focus on diversity metrics (to the detriment of equity and inclusion).
She also explains how public policy affects the success of DEI initiatives, why intersectionality is crucial for impactful DEI, and why greater DEI is not only beneficial to society but the economy as a whole. Today's episode is full of powerful insights on the importance of DEI and sheds light on the role that investors play in its success. Press play now to learn how you can make a difference!
Key points from this episode:
- Introducing hosts, Donata Haque-Bernutz and Larissa Machiels.
- Get to know our guest, Elena Espinoza, Senior Lead of Social Issues and Acting Head of Governance at Principles for Responsible Investment (PRI).
- How the PRI conceptualises diversity, equity, and inclusion (DEI).
- Why companies and investors disproportionately focus on diversity over equity and inclusion.
- The conversation around diversity and why it has largely been centered on gender.
- How investors need to think about other characteristics like race and religion.
- Why a focus on intersectionality is a requirement for impactful DEI.
- An overview of important DEI regulatory developments and legislation in European markets, the UK, Canada, and the US.
- How public policy and broader legislation affect diversity, equity, and inclusion.
- Why impactful DEI legislation needs to be tailored for each country's unique demography.
- An overview of the business case for DEI.
- The risks and opportunities associated with DEI.
- The concept of groupthink and the benefits of cognitive diversity.
- Suggestions for how to measure and monitor inclusion in your business.
- Learn about the multi-year work program that the PRI has set up.
- A breakdown of their best practices and how to implement them.
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