Diversity News
A May 16, 2011 article in the Washington Post Capital Business [Online at: “Federal Reserve Bank seeks diversity in contractor pool.],” discussed efforts by the Federal Reserve Bank of Richmond to increase contracting with women- and minority-owned firms.
3/7/11 - Pursuant to Request for Proposal No. 2010-5646, the California Public Employees’ Retirement System intends to award the contract for Investment Diversity Consultant Services Spring-Fed Pool to:
Creative Investment Research, Inc.
Contracts are of no force or effect until approved by the authorized officials. Contractors may not commence performance until such approval has been obtained. POST: March 7, 2011 through March 14, 2011. AWARD DATE: March 15, 2011
10/16/10 - Section 342 of the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act contains a significant provision creating an Office of Minority and Women Inclusion at various agencies to monitor the diversity efforts of the agencies, the regulated entities and agency contractors. The Section requires the Department of the Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, each of the Federal Reserve Banks, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Securities and Exchange Commission and Bureau of Consumer Financial Protection to create an Office of Minority and Women Inclusion to be responsible for all agency matters relating to diversity in management, employment and business activities.
Details on Section 342 can be found at This Week in SRI Blog
First Socially Responsible Investing Portfolio Devoted to Diversity Launched. by Bill Baue. SocialFunds.com July 31, 2006. Online at: http://www.socialfunds.com/news/print.cgi?sfArticleId=2071
How Will SRI Screens Evolve?
Article published on Aug 18, 2006
By Lisa Lacy
INDEX OPENS NEW FRONT IN ETHICAL INVESTING: A portfolio of stocks based on a company's diversity was created last month in Minneapolis. No Minnesota firm is in it. Kara McGuire, Star Tribune.
The Wall Street Journal - FUND TRACK
Pax May Bless Some 'Sin' Stocks
By DIYA GULLAPALLI, September 1, 2006; Page C1
7/16/06 NAACP released the 2006 Business Diversity Report Card, it's annual report card "tracking and showing how some of the nation's largest companies and industries treat consumers of color." Details on the 2006 Consumer Choice Guide and the NAACP Economic Reciprocity Initiative can be found at www.naacp.org
2/1/06 Emerging Manager Monthly (EMM) launched by Financial Investment News. EMM focuses of money management firms owned by women and minorities.
1/31/06 - The California Public Employees' Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS) announced the Expanding Investment Opportunities Through Diversity Conference, to be held on April 24 - 25, 2006 in San Jose, CA.
1/27/06 A study on diversity at boards of directors from Chicago United examined all of the firms in the Fortune 100. Chicago United concluded that:
Companies with diverse boards of directors had an average return on equity of 25%.
Companies with non-diverse boards had an average ROE of 9%. For more, see Four Winners and Four Losers in Corporate Diversity
11/14/05 The Wall Street Journal runs an entire section titled The New Diversity. Corporations are moving from an assimilation model to an integration model to create a truly diverse culture and boost innovation and productivity.
11/3/05 - The Chartered Financial Analyst (CFA) Institute announces Diversity debate.
11/1/05 - The NY Times runs an advertising section devoted to Corporate Social Responsibility. Starbucks, Mattel, Nike, and other firms emphasize supplier diversity.
10/30/05 - The NY Times devotes an ad section to diversity, and it is sponsored by participating corporate advertisers.
8/3/05 Special CALSTRS Diversity Investing Initiative announced: The trend of rapidly growing ethnic communities continues, not only in California, but across the U.S. This trend, identified by many and harnessed by few, creates an enormous opportunity that can translate into valuable and attractive products for the investment community. Jack Ehnes, chief executive officer of CalSTRS.
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