Investor Leadership Network, Washington, launched a new online tool, the Inclusive Finance Playbook, which focuses on inclusion metrics for asset owners and investment managers.
The playbook offers investors two tiers of metrics — fundamental and advanced — that help organizations assess their diversity, equity and inclusion policies in areas such as talent acquisition, employee engagement strategies and diversity data transparency, said Amy Hepburn, network CEO.
ILN has three areas of focus: climate change, sustainable infrastructure and diversity in investment.
After review, Ms. Hepburn said the 13 members of the organization, seven large pension funds and six money managers with combined assets of $10 trillion, "decided that diversity needed more attention."
The group, made up of pension fund and money manager CEOs and CIOs, agreed that "inclusion metrics are about assessing an organization's culture, not just counting heads," Ms. Hepburn said, adding that ILN's industry research showed "there is not a lot of engagement in the industry in moving the diversity needle."
ILN's membership includes executives from the C$550 million ($441 billion) Canada Pension Plan Investment Board, Toronto; the C$150 billion Alberta Investment Management Co., Edmonton; and the C$420 billion Caisse de Depot et Placement du Quebec, Montreal.
Money management members of the group include State Street Global Advisors, with $4.38 trillion in assets under management, and Natixis Investment Managers, with AUM of €1.2 trillion ($1.3 trillion).
"ILN members believe that the best way to achieve the positive results associated with diversity is to ensure that organizations have an inclusive culture that welcomes people of all backgrounds and identities," said Helen Beck, executive vice president and head of equity markets at CDPQ, in the playbook.