Our 2021 environmental, social, and governance (ESG) survey of general partners focused on diversity & inclusion (D&I) initiatives – revealing progress made and work left to be done.
1 As of 1 February 2021. Includes primary partnership fund general partners of all active funds/accounts managed by PineBridge Private Funds Group.
Ninety-four percent of respondents reported having an established ESG approach, up from 78% last year.
Respondents are increasingly adopting local and international ESG standards, with nearly half saying they had committed to the UN Principles for Responsible Investment (PRI) and smaller numbers citing commitments to the Sustainability Accounting Standards Board (SASB) and the UN Global Compact.
Tracking of progress on internal ESG goals is still in early days for many respondents – only 27% reported tracking or benchmarking progress against pre-established ESG goals, and just 56% engage in industry certification programs.
Has your firm committed to any international standards, industry guidelines, regulatory frameworks, or other initiatives that promote responsible investment practices? Select all that apply.
Seventy-two percent of respondents said they have taken formal actions to promote D&I in their investment research and decision-making process, including incorporating D&I questions during their due diligence (38%) and promoting and tracking diversity in the boards of directors of their portfolio companies (46%).
The survey highlighted a current lack of diversity within the respondents’ organizations, with women remaining a minority of investment teams, and 66% of respondents reporting that white employees make up more than 50% of their overall staff.
More than 80% of respondents reported taking one or more steps to support hiring a diverse pool of talent, with “ensuring that internal and/or external teams charged with recruiting employees understand and adhere to the organization’s diversity goals” cited most frequently by respondents (54%).
Addressing compensation (31%) and mentoring (25%) were cited most often when asked what steps their organization has taken to support equity and advancement of women and employees from traditionally underrepresented groups – though one-third of respondents reported taking no formal actions.
What steps has your organization taken to support equity and advancement of women and other employees from traditionally underrepresented groups? Select all that apply.
This information is for educational purposes only and is not intended to serve as investment advice. This is not an offer to sell or solicitation of an offer to purchase any investment product or security. Any opinions provided should not be relied upon for investment decisions. Any opinions, projections, forecasts and forward-looking statements are speculative in nature; valid only as of the date hereof and are subject to change. PineBridge Investments is not soliciting or recommending any action based on this information.