23 Asia-Pacific firms make 2019 D&I Index Top 100 list
Refinitiv announces 2019 D&I Index Top 100 most diverse and inclusive organizations globally with 25 firms from the US and 10 from the UK
Twenty-three companies from the Asia-Pacific made this year's D&I Index Top 100 with Australia topping the region with nine, followed by Japan with five.
“This year, 23 companies in the Asia-Pacific (APAC) region earned a spot among the top 100 most diverse and inclusive organizations globally. Australia continues to lead the region with nine companies ranked among the top 100, followed by Japan with five companies. These companies come from a diverse range of sectors, which include Food & Drug Retailing, Telecommunications, Insurance and Chemicals, etc,” says Debra Walton, chief revenue officer at Refinitiv.
Industries leading this year’s D&I Index Top 100 are pharmaceutical firms with a total of 13, followed by banking, investment services & insurance with 11, telecommunications services with nine, and personal and household products & services with seven. The US leads the Top 100 list, announced by Refinitiv, with 25 firms followed by the UK with 10 and Australia with nine.
Refinitiv has announced the 2019 Top 100 most diverse and inclusive organizations globally as ranked by the Diversity & Inclusion (D&I) Index. The index ratings are informed by Refinitiv’s Environmental, Social, and Governance (ESG) data, designed to transparently and objectively measure the relative performance of more than 7,000 companies representing 70% of global market cap across over 400 ESG data points, and provide clients with critical and differentiated insight.
The D&I Index is available on Refinitiv Eikon, as are the underlying diversity and inclusion metrics, which can be used to help financial professionals evaluate companies for long-term opportunities and risks in their investments, as well as empower diversity-lens investing strategies.
The D&I Index utilizes innovative analytics to rate and score companies across four main pillars: Diversity, Inclusion, People Development and Controversies. Only companies with scores across all four pillars are assigned an overall score (the average of the pillar scores). The top 100 ranked companies with the best overall scores are selected for the index.
“Our Diversity and Inclusion Index, now in its fourth year, recognizes the companies who are leading the way in imbedding diversity and inclusion into their business strategy and practices,” says Elena Philipova, global head of ESG at Refinitiv.
“As ESG principles become commonplace around the world, many executives and investment professionals are looking at the implementation of ESG fundamentals, D&I being part of it — not as a ‘nice to have’, but as an essential lens for investment and strategy decision-making. Refinitiv remains fully committed to using our data assets, expertise and influence to champion the importance of diversity and inclusion in the workplace – including our own,” says Philipova.
The index was topped by Accenture, followed by Diageo, Royal Bank of Canada, Natura Cosmeticos, and BlackRock. The highest placed Asia-Pacific company was Australia’s Woolworths Group, which came nineteenth.
Although some APAC markets are more mature than others when it comes to ESG, it is gaining more momentum among businesses in the region. With increasing transparency in the reporting of social metrics it will offer opportunities for investors to better integrate ESG principles into the investment and strategy decision-making process. We have no doubt that more and more APAC corporations will be added to our Index in the years to come,” adds Walton.
The D&I index continues to receive recognition from industry analysts across the globe.
Larry Tabb, founder and research chairman at TABB Group, comments, “Diversity as a critical pillar of good governance is being increasingly used to manage investment selection. Those companies that have strong ESG aspects in their business tend to attract and retain employees and clients longer, which reduces turnover, costs and is very beneficial to the bottom line.”
Virginie O'Shea, research director at Aite Group, comments, “The continued industry interest in the D&I index reflects the increased investor appetite to invest in environmental, social, and governance related areas and the changes that are happening across all sectors of the capital markets. Some of the largest asset managers in the world have this year become much more active in engaging in shareholder voting on the issue of improving diversity and even the world’s oldest private banks have taken to the industry stage to discuss their investment strategies around ESG.”
Will Jan, vice president and lead analyst at Outsell, says, “All eyes are on ESG data as the financial community becomes more vested in a sustainable future. One critical responsibility among ESG platform providers is to help investors understand the impact of D&I: While D&I is a long-term process, not a goal, the need for near-term returns on D&I investments remains very real. As such, metrics supporting various D&I benchmarking efforts have become more critical than ever in assessing the risk-vs-return in this market.”
Brad Bailey, research director, capital markets at Celent, comments, “Investors are moving from relatively simplistic screening approaches to the consideration of ESG factors throughout the investment process. There is an increasing amount of sophistication, by focusing investments on specific environmental or social themes and investing with the intention of generating positive social or environmental impact.”
“The D&I Index reflects Refinitiv’s own commitment to diversity and inclusion, data points which we track rigorously about our own company and which continue to drive our talent strategy to reach a minimum of 40% female representation in senior leadership roles globally, whilst continuing to support and promote an inclusive workplace that embraces diversity of every kind,” says David Craig, CEO of Refinitiv.
The D&I Index, launched in 2016, ranks the top 100 publicly traded companies globally with the most diverse and inclusive workplaces, as measured by 24 metrics across four key categories: Diversity, Inclusion, People Development and News Controversies. The Index is then calculated by weighing each metric based on importance in the market and how each company compares with its peers.
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