Praxis seeking justice through corporate engagement

Shareholder advocacy |

Issues include racial justice, corporate diversity, climate change

Praxis Mutual Funds® is working with companies on multiple issues related to racial justice, including corporate diversity and climate change.

In the past year, Praxis Mutual Funds has engaged Whirlpool and NiSource on board and executive diversity. Letters and dialogues have covered topics such as female/ethnic representation on the board, diversity and unconscious bias staff training programs, and internal programs to encourage diversity. Conversations have been mutually beneficial, with Praxis and partner investors learning details about the companies’ multi-pronged approaches to diversity. Both companies have set notable goals for diversity and inclusion.

Praxis is a member of the Thirty Percent Coalition, a pioneer in advocating for diversity in the corporate boardroom and executive offices. The Coalition provides a national forum where its members develop strategies to influence companies to increase gender and ethnic diversity in senior leadership and boardrooms. According to the Coalition, research has also shown a compelling correlation between board diversity and improved shareholder value and company performance. A growing number of companies and investors supports the proposition that diversity on boards and in the executive suite leads to better company performance.

Praxis also pursues environmental justice through engagements with many utilities and energy companies. Poor and minority communities are often disproportionately affected by the negative outcomes of fossil fuel use, chemical production and climate change. Praxis works with companies on issues such as plant siting, emissions reductions and renewable energy development to lessen these impacts, with the goal of transitioning to a low-carbon economy that is inclusive and just.

For nearly 50 years, the Interfaith Center on Corporate Responsibility has organized faith-based and socially responsible investors to engage corporations around issues of social justice and environmental responsibility. And Praxis Mutual Funds has been an active member of ICCR since our founding in 1994. We are honored to join ICCR and their many institutional members in a “re-commitment to racial justice.”

Chris Meyer

Author

Chris Meyer
Manager of Stewardship Investing Research and Advocacy

Shareholder Advocacy

Learn more about Praxis’ shareholder advocacy work in support of justice and other concerns by visiting the links below.

 

Stories of impact Learn more about shareholder advocacy

Disclosure

As of April 30, 2020, the Praxis Value Index Fund has invested 0.18% of its assets in NiSource, and 0.08% of its assets in Whirlpool. Fund holdings are subject to change. To obtain holdings as of the most previous quarter, visit praxismutualfunds.com.