Entrepreneur, June 7: “Women… tend to see their investing as a means to an end — a way of accumulating enough money to, for example, buy a house or retire early. A corollary is that, rather than focus solely on commercial gains, more women look for businesses that have a social purpose or are at least sustainable. This is true for all kinds of investments…

Another reason for this is that women also do more research, according to HSBC, who found that 17 percent of women, compared to 13 percent of men, spend more than a month researching investment options. Erika Karp, the founder and CEO of Cornerstone Capital and the former head of Global Sector Research at UBS Investment Bank, told Professional Wealth Management that transparency is at the core of sustainable investing and women like to be thoroughly informed before acting.”

Read full article here.

 

Citizen activists are taking to the streets to demand government accountability and action on issues they care about passionately, with groups ranging from #metoo to #neveragain, Black Lives Matter, and the alt-right. Against this backdrop, some of the largest shareholders in the world are now joining long-time shareholder advocates to call for improved corporate governance, equality and environmental stewardship. How will this heightened partisanship and conflict affect relations between companies and shareholders?

Cornerstone Capital Group recently convened our panel of corporate governance experts for a live webinar on hot topics in corporate accountability, sustainability and shareholder engagement. Our Head of Research and Corporate Governance, John Wilson, moderated a discussion with Catherine Jackson of Jackson Principled Governance, independent board director Karina Litvack, and Tim Smith, Head of ESG Shareholder Engagement at Walden Asset Management. Below are the key questions addressed, with video replays of each discussion.

How are shareholders helping to reshape the conversation around gender equality in the boardroom and the workplace?

Accountability and Action on the Slate? Corporate Governance in This Activist Age: Gender Diversity

How are climate competencies becoming a matter of corporate governance?

Accountability and Action on the Slate? Corporate Governance in This Activist Age: Climate Competencies

Some of the largest asset managers in the world have made a new commitment to advocacy on issues such as firearms and climate change—How does their participation change the conversation?

How is the political landscape in the U.S. and Europe influencing the conversation around corporate political activities?

How is the changed political landscape in the U.S. and Europe influencing the conversation around corporate political activities?

Accountability and Action on the Slate? Corporate Governance in This Activist Age: The Asset Manager Role

How are shareholders helping to reshape the conversation around gender equality and overall diversity in the boardroom?

Recently, Cornerstone Capital’s Head of Impact Strategy, Katherine Pease, sat down for an in-depth discussion with two leading figures in the field of gender-focused investment and philanthropy, to discuss the role that investors and finance can play in addressing gender-based violence in companies and society.
Teresa Younger is the President and CEO of the Ms. Foundation for Women. A noted speaker, advocate, and activist, Teresa has been on the frontlines of some of the most important battles for women’s health, safety and economic justice.

Joy Anderson is the founder and president of Criterion Institute. Criterion is a leading think tank focused on using finance as a tool for social change. Criterion played a significant role in creating and building the field of gender lens investing and continues to shape how gender matters in the analyses, structures, and processes of investment and finance.

The discussion centered on the following questions:

It was evident that society’s awareness of gender-based violence and the impact of gender issues more broadly is evolving. Teresa referred to the “spiral process” of understanding the challenges and potential solutions—i.e., we learn more about a subject each time the topic is encountered, expanding our knowledge and our ability to tackle this difficult issue.

FA Online, April 26: Cornerstone’s Head of Impact Strategy, Katherine Pease, published this editorial regarding sexual and gender-based violence.

This editorial was originally published in FA Online, April 26, 2018.

There was a time when I regularly quoted a well-known statistic that one third of women and girls experience sexual assault from an unknown or known perpetrator in their lifetimes. At the time, that percentage seemed pretty high. And then #metoo happened. The more I heard stories from women—personal stories or stories circulated through social media and then the mainstream media—the more I realized that it was the rare woman or transgender person who I knew or knew of who hadn’t experienced sexual or gender-based violence.

So here we are, in a time where social media has finally made evident the extent of the problem. How did we get here? How is it that the systematic cover-up of violence and abuse in society and in companies is so pervasive?

In a recent article published by Cornerstone Capital Group (where I work), my colleagues Emma Currier and Sebastian Vanderzeil noted that sexual and gender-based violence may present a material risk to companies and industries in three key areas:

Simply put, violence and harassment in the workplace is bad for business. When allowed to run rampant, it can lead to greater turnover and lower performance. It can also create tension with the communities in which businesses work when management is perceived to be complicit with perpetrators and noncompliant with local customs and laws. And, as we have seen with the Weinstein empire and others, when it comes to companies that fail to create inclusive cultures and address harassment, consumers are quick to abandon brands, a phenomenon that is growing thanks to the prevalence of social media.

But there is something that can be done. Shareholders and investors can insist that the companies in which they are invested disclose critical information that will bring to light corporate practices and cultures related to sexual and gender-based violence. Unfortunately, this is easier said than done due to the current state of reporting by companies on matters related to an array of issues that are important to women and others who experience marginalization. Consistent with broader corporate negligence around gender equality, there is a serious gap in corporate reporting on sexual harassment and violence, a gap that currently makes it very difficult to evaluate corporate behavior.

Given this urgent need for more disclosure, In the short run, investors should demand that companies disclose:

  1. Sexual harassment claims and companies’ specific steps to resolve the claims
  2. Initiatives to support victims in reporting sexual and gender-based violence

A handful investors are already taking significant steps toward aligning their investments with companies that disclose their practices related to equity and opportunity in the workplace. This is being made possible in part because of new efforts to systematically improve disclosure and reporting practices among corporations. For example, EquiLeap, an Amsterdam-based organization, measures gender equality in public companies against an extensive proprietary Equileap Gender Equality Scorecard, which looks at 19 different data points, including recruitment, training and promotion, the gender composition of management and workforce (gender balance being the ideal), fair wages and equal pay, family leave policies, work-life balance and supply chains. It also includes alarm bells to mark, and if necessary, to exclude companies that have cases taken against them or have been judged to be guilty of gender discrimination and/or harassment. The Equileap Scorecard is inspired by the UN’s Women’s Empowerment Principles, and looks at the workplace from a rights-based perspective rather than purely from a diversity prospective, which most gender-lens investment strategies focus on.

At Cornerstone Capital Group, we are also embedding a robust gender analysis into our investment review process given our clients’ interest in gender lens investing approaches that reflect their values and indeed that have the ability to change how corporations behave.

But we can’t do it alone or even with the limited number of investors who are committed to gender lens investing. We will only be successful in making the needed change that #metoo has given voice to if many more investors ask hard questions of their investment managers and the companies in which they are invested. Collectively we must demand more of companies and we must act to ensure that they take the basic step of disclosing the information that investors need to make informed decisions. Because if not now, when?

Katherine Pease is Managing Director and Head of Impact Strat

At Cornerstone Capital Group, we have always been committed to investing with gender lens – it’s part of our heritage as a woman-owned investment firm, and equity and inclusion are core values.  One of our first clients to embrace a total gender lens portfolio was the Ms. Foundation for Women (www.forwomen.org).  We are proud to partner with the Ms. Foundation as their investment advisor and as a thought partner on important matters facing women and girls including addressing the prevalence of sexual and gender based violence (as in our recent report).

On April 10 we were thrilled to welcome Teresa Younger, President & CEO of the Ms. Foundation, for an event we co-hosted in Denver with the Women’s Foundation of Colorado (www.wfco.org).  The event was attended by many leading investors and philanthropists in Colorado. Here are a few photos from the evening.

Phil Kirshman and Craig Metrick with Ning Mosberger-Tang of Innovo Foundation

Katherine Pease, Head of Impact Strategy for Cornerstone Capital Group, with Lauren Casteel, President & CEO, Women’s Foundation of Colorado and Teresa Younger, President & CEO, Ms. Foundation for Women

Lauren Casteel, President & CEO, Women’s Foundation of Colorado; Karen McNeill-Miller, President & CEO, The Colorado Health Foundation; Teresa Younger, President & CEO, Ms. Foundation for Women

Phil Kirshman with Adrienne Mansanares, Trustee, Women’s Foundation of Colorado; Jesse King, President, Fulcrum Advisors.

Katherine Pease is Managing Director, Head of Impact Strategy. In this role she helps develop and monitor impact strategies and provides contributions to Cornerstone’s professional research team. She previously served as the Principal of KP Advisors, Inc., whose mission is to help foundations, nonprofits and investors develop thoughtful, innovative approaches to address the challenges they care most about by using a variety of types of capital and other resources to make the world more just, fair and equitable.

Upcoming Event:

Citizen activists are taking to the streets to demand government accountability and action on issues they care about passionately, with groups ranging from #metoo to #neveragain, Black Lives Matter, and the alt-right. Against this backdrop, some of the largest shareholders in the world are now joining long-time shareholder advocates to call for improved corporate governance, equality and environmental stewardship. How will this heightened partisanship and conflict affect relations between companies and shareholders?

Join Cornerstone Capital Group as we convene our panel of corporate governance experts to discuss hot topics in corporate accountability, sustainability and shareholder engagement, addressing questions such as:

April 17, 2018

11:00 am – 12:00 pm

Register here

FA Magazine, Feb 12: Sexual Harassment Now An Investment Issue, Cornerstone Capital Says

 

CFO Magazine, Feb 12: Sexual misconduct poses financial risks for companies

“Time’s Up”… #MeToo … allegations of abusive behavior by corporate chiefs … the groundswell of public attention to sexual and gender-based violence (SGBV) is revealing how pervasive it is at all levels of society, in all industries. From an investor’s perspective, the burgeoning movement to root out abuse raises the question of whether capital markets participants might be complicit in its persistence.

It also raises the possibility that issues related to SGBV might evolve into a material financial risk for companies that don’t take appropriate action.

Traditionally, impact and gender lens investing has focused on discrimination, pay equity, and workplace conditions more so than the human rights violations embodied by SGBV. Investors lack access to data regarding the extent of the problem and do not possess the means to gauge the consequences for stakeholders or investment performance. We believe it is incumbent upon investors to demand greater transparency on issues of SGBV related to business activity; to hold companies accountable for reducing SGBV; and to incentivize companies to minimize SGBV.

With this report we launch an inquiry into how investors might better understand SGBV and contribute to a solution, as well as examine what kinds of data would generate useful insights. Key findings include:

Download our full report here.

Emma Currier is a Research Associate at Cornerstone Capital Group. Emma graduated with a Bachelors of Arts degree in Economics from Brown University in May 2016. While at school, she worked with the Socially Responsible Investing Fund and as a teaching assistant for the Public Health and Economics departments. She spent her sophomore summer researching differences between American and Indian educational styles in Arunachal Pradesh, India, and completed a summer investment bank analyst position with Citi in the Media & Telecom group in 2015.

Sebastian Vanderzeil is Director, Global Thematic Research Analyst with Cornerstone Capital Group. He holds an MBA from New York University’s Stern School of Business. Previously, Sebastian was an economic consultant with global technical services group AECOM, where he advised on the development and finance of major infrastructure across Asia and Australia. Sebastian also worked with the Queensland State Government on water and climate issues prior to establishing Australia’s first government-owned carbon broker, Ecofund Queensland.

New York, October 10, 2017 – Cornerstone Capital Inc. is pleased to announce that Erika Karp, Cornerstone’s Founder and CEO, will be honored at the Metropolitan New York Chapter of the US National Committee for UN Women during its 30th anniversary reception, “Champions of Change: Stand Up for Women Worldwide,” on October 18th at The Harmonie Club, New York, from 6-9pm.

Karp will be honored as a champion of gender equality, an innovator and a dynamic leader in the field of sustainable finance. She is a founding Board member of the Sustainability Accounting Standards Board (SASB), a member of the World Economic Forum (WEF) Global Agenda Council on Financing and Capital, and a former advisor to the Clinton Global Initiative. Prior to founding Cornerstone, Karp served as Managing Director and Head of Global Sector Research at UBS Investment Bank.

Commenting on today’s news, Karp said “I’m honored to be recognized by such a prestigious organization and one that is advocating for a cause that is important globally as well as to me personally. We’ve certainly made great strides when it comes to gender equality – and while those strides should not be minimized, we have plenty of work left to do given the current socioeconomic climate we find ourselves in.”

Karp will be joined by fellow honorees Susie Ellis, Chairperson and CEO of the Global Wellness Institute and head of the Global Wellness Summit and Global Wellness Tourism Summit and Jolly Amatya, Youth Advocate, Co-Chair/Youth Chair of the Youth Assembly at the United Nations, 2015-2017.

The evening will be punctuated by a keynote address by Dr. Phumzile Mlambo-Ngcuka, UN Under-Secretary-General and Executive Director of UN Women.  The New York Chapter, which is the oldest and largest chapter of the US National Committee for UN Women, is celebrating its 30th anniversary during a pivotal moment in the history of the United Nations and UN Women.

Chapter President Mary Luke commented, “The Chapter has been invigorated in the last year by the revitalized focus in the United States on women’s rights and gender equality. Building on that momentum, we are thrilled to honor Erika and her fellow trailblazers who are strong, visionary women that have made a difference in their respective fields and are mentors to young women.”

Cornerstone’s mission is to apply the principles of sustainable finance across the capital markets, enhancing investment processes through transparency and collaboration. For investors looking for financial returns and to make the world a better place, Cornerstone is dedicated to systematically integrating the dimension of sustainability into investment decisions, delivering financial performance with positive social impact.

Limited tickets are still available. Join the Metropolitan New York Chapter of the US National Committee for UN Women for cocktails, food, a silent auction, and to support UN Women’s programs for women’s empowerment and gender equality.

Editor’s note: Ms Foundation has just released a new report: “Centering Black Women, Girls, Gender Nonconforming People and Fem(me)s in Campaigns For Expanded Sanctuary and Freedom Cities,” by Andrea Ritchie and Monique Morris (National Black Women’s Justice Institute). Below we share the executive summary. Download the full report here: https://forwomen.org/resources/sanctuary-city-report/

Centering Black Women, Girls, Gender Nonconforming People and Fem(mes) in Campaings for Expanded Sanctuary and Freedom Cities: A Policy Brief by Andrew J. Richie and Monique W. Morris, Ed.D.

EXECUTIVE SUMMARY

In recent decades, as anti-immigrant rhetoric has intensified and policing, detention, and deportations of immigrants have dramatically increased, social movements have responded with calls for the creation of sanctuary spaces, institutions and cities offering protections to immigrants. In response, a growing number of municipalities have declared themselves “sanctuary cities” by enacting administrative policies and legislation limiting collaboration with federal immigration authorities to varying degrees. In the wake of 2017 federal executive orders and a proposed 2018 federal budget advancing an agenda of mass deportation which relies on criminalization of immigrants as both a mechanism and justification for deportation and exclusion, immigrant rights and racial justice groups have issued renewed – and expanded – calls for sanctuary. Progressive legislators and institutions have responded to this call to action – and to attacks on “Sanctuary Cities” by the federal government – by recommitting to protecting immigrant communities.

Organizations like BYP100, Mijente, and Black Alliance for Just Immigration (BAJI) are also going beyond existing frameworks to call for sanctuary for all communities experiencing aggressive criminalization, policing, and incarceration, including and especially Black communities, both immigrant and U.S. born, launching national campaigns for “Expanded Sanctuary” and “Freedom Cities.” Building on municipalities’ and institutions’ declared intentions to resist federal efforts to target immigrants by remaining or becoming “sanctuary cities,” these campaigns call on policymakers – and on all of us – to not only resist egregious federal efforts to coerce cities and counties to participate in discriminatory and harsh immigration enforcement efforts, but also to dream bigger and do more. Expanded Sanctuary and Freedom City campaigns call for an end to all policing and immigration enforcement practices that target Black and Brown communities, immigrant and U.S. born. They also call on us to envision and build the communities we want, through reinvestment of resources away from surveillance, punishment and exclusion and toward addressing community needs. Focusing on shared experiences of racial profiling, criminalization, and exclusion between immigrant and U.S. born Black and Brown communities offers opportunities to build bridges across divides of race, immigration status, gender, sexuality, and faith in a time of division and scapegoating. It also facilitates building strong coalitions rooted in mutual aid and shared commitment to protecting all members of our communities.

A rallying cry of campaigns for Expanded Sanctuary and Freedom Cities has been “Black people need sanctuary too” – referring not only to Black immigrants, but also affirming that non-immigrant Black communities are entitled to protections from police profiling, discriminatory and abusive policing, as well as collaboration between police and other public institutions such as schools and hospitals that contribute to criminalization and mass incarceration, in the same ways that immigrants are entitled to protection. In this policy brief, we expand and deepen that call to say “Black women, girls, gender nonconforming people and fem(me)s need sanctuary too!” and outline a series of concrete steps policymakers, institutions and communities can take to protect Black women, girls, trans and gender nonconforming people.

Often invisible in conversations about profiling, policing, criminalization, mass incarceration and deportation, Black women, girls, and fem(me)s face unique forms and sites of criminalization, state violence, and intra-community violence. It is essential that as we dream of Expanded Sanctuary and Freedom Cities, we center Black women, girls, and fem(me)s in our vision, advocacy, organizing, and implementation. In order to protect Black women, girls, gender nonconforming people and fem(me)s sanctuary cities, institutions, and spaces must:

• Offer the maximum degree of protection from information sharing and collaboration between police, public and private institutions, and immigration authorities;

• Protect sensitive locations such as churches, hospitals, health care, and birthing facilities, shelters, courtrooms, social service agencies, foster care facilities, schools and other learning institutions and other locations where Black women and girls may be vulnerable from immigration enforcement agents;

• Decriminalize offenses most likely to funnel Black women and girls into the criminal and deportation systems, including drug offenses, “broken windows” and poverty-based offenses, and prostitution-related offenses, and offenses imposing higher penalties on people living with HIV;

• Create and support culturally competent pre-arrest diversion programs;

• Eliminate mandatory arrest policies;

• Remove police and end criminalization of students in schools and other learning environments;

• Protect women, girls, trans and gender nonconforming people from gender-specific police abuses including police sexual violence and violations of the rights of trans and gender nonconforming people;

• Imagine, develop, implement, and assess community-based responses to violence that will ensure safety for Black women, girls, gender nonconforming people and fem(me)s within our families, homes, relationships, communities, and institutions.

Finally, beyond providing sanctuary or building toward freedom by challenging and eliminating immigration enforcement and policing practices that cause harm to Black women, we have a responsibility to create conditions that will ensure safety from intrapersonal and intra-communal violence for Black women, girls, gender nonconforming people and fem(me)s.

Monique W. Morris, Ed.D. is an award-winning author and social justice scholar with nearly three decades of experience in the areas of education, civil rights, juvenile and social justice. Dr. Morris is the author of Pushout: The Criminalization of Black Girls in Schools (The New Press, 2016), Black Stats: African Americans by the Numbers in the Twenty-First Century (The New Press, 2014), and Too Beautiful for Words (MWM Books, 2012). She worked with Kemba Smith on her book, Poster Child: The Kemba Smith Story (IBJ Book Publishing, 2011) and has written dozens of articles, book chapters, and other publications on social justice issues and lectured widely on research, policies, and practices associated with improving juvenile justice, educational, and socioeconomic conditions for Black girls, women, and their families.

Andrea J. Ritchie is a Black lesbian immigrant, attorney, policy advocate and consultant, and a Researcher in Residence on Race, Gender, Sexuality and Criminalization at the Barnard Center for Research on Women. She is is a nationally recognized expert and sought-after commentator on policing issues, and the author of Invisible No More: Police Violence Against Black Women (Beacon Press, 2017) and co-author of Say Her Name: Resisting Police Brutality Against Black Women and Girls (AAPF, 2015) and Queer (In)Justice: Criminalization of LGBT People in the United States (Beacon Press 2011).

This session brings together a group of leading chief executive officers who will discuss their experiences of diversity and inclusion. What role does the chief executive officer play in influencing the board? What obstacles can get in the way of progress and how can they be overcome? How do CEOs view and encourage activation and engagement within their organisations? How can reverse mentoring help CEOs and senior leadership teams to gain a better understanding of the issues?

Speakers: Peter Arvai, chief executive, Prezi

Erika Karp, founder and chief executive, Cornerstone Capital Inc.

Mike Pedersen, group head, U.S. Banking, TD Bank Group; president and chief executive, TD Bank

Moderator: Tom Standage, Deputy editor, The Economist

One of the most encouraging global trends is the growing economic role of women. Two leading women investors and one asset owner discussed how to invest in and accelerate this trend. Do companies that empower women perform better? Should investors demand more women on boards?

Erika Karp Founder and chief executive, Cornerstone Capital Inc.

Ron D. Cordes Co-founder, Cordes Foundation

Jackie VanderBrug, managing director and investment strategist, U.S. Trust Moderator: Andrew Palmer, business affairs editor, The Economist

Closing the gender equality gap is among the priorities of the United Nations Sustainable Development Goals (Goal 5), along with end ending poverty and hunger, and ensuring quality education. In short, it is, has been, and will continue to be one of the most tremendous challenges of our times. What precedes this article is a plethora of literature telling us “what” to do (provide more leadership and equal opportunities, offer gender-sensitive trainings and access to resources, ensure participation, reform policies). This article focuses not only on how to actually begin putting these “whats” into practice, but also on how to get closer to closing this gap.

One of the most important and effective ways to close the gender equality gap is through women’s economic empowerment. Countless women across the globe face insurmountable barriers to fully participate in and contribute to the economy; these range from discrimination in the workforce, unequal pay, inability to access credit, lack of land ownership, lack of community support, and restricted movement. Others are unable to engage in income-generating tasks as a result of family chores such as washing clothing by hand, fetching water, cooking, and cleaning–also known as “time poverty.” Empowering women economically can reverse all of these trends and help women gain agency and respect in their societies.

There are many places to start, but the question is not “where,” it is “how.” Oxfam America identified a growing, underserved number of women entrepreneurs in Latin America whose businesses had credit needs ($5,000-$50,000) that exceeded traditional microfinance loan sizes (typically no more than $1,000), but were at the same time unattractive for larger commercial banks. They therefore formed a so-called “Missing Middle” of women unable to grow their businesses further.

In Guatemala, this missing middle faced significant constraints in accessing finance: They typically have no collateral to back their loans (only 15% of land is owned by women), interest rates can reach as high as 40% annually, and banks can require up to a 240% guarantee coverage. Banks may also require women to obtain their husbands’ permission to acquire a loan, and oftentimes fail to provide them with a copy of their contract.

Oxfam America proceeded to launch its first impact investing fund, the Women in Small Enterprise (WISE) Fund in Guatemala, with an eye to women’s economic empowerment. The WISE Fund provides a 50% guaranty to local financial institutions in exchange for better loan terms for women. In our most recent partnership with a savings and credit cooperative in Alta Verapaz, we have reduced interest rates from 30% to their lowest rate, 18% (in effect transferring women entrepreneurs to their lowest-risk customer segment), reduced collateral requirements from up to 140% to no more than 100%, and allowed for mixed guarantees.

How this program gets closer to closing the gender gap is by recognizing and accounting for the fact that true empowerment requires more than simply increasing access to finance. Opening up space for women to play a larger role in their surrounding economy can carry a number of implications and unexpected side effects, such as backlash from society or male family members unwilling to question gender roles. These unexpected results may disrupt or completely thwart well-intentioned efforts.  Another way to frame this is that a holistic approach to women’s economic empowerment ensures that years of planning, fundraising, and investing translate into real change instead of an experiment gone wrong.

The WISE program couples access to finance with business skills training that includes hard and soft skills (such as how to negotiate business and household affairs) and, with the support of gender specialists, incorporates male family members so as to reduce negative repercussions as a result of participating in the program. Through evidence generated from fund and portfolio performance and changes observed within the financial partner, WISE advocates for the country’s highest institutions to enact policy changes that will bring about permanency to this work.

Each country, program, and approach faces varying demands and opportunities. What remains clear is that without a holistic approach grounded in the specific context in which women are living, the result will be disappointing. Irrespective of the path chosen, any strategy meant to close this gap should:

Alicia Robinson is Chief Investment Officer at Oxfam America’s pilot Women in Small Enterprise, based in Guatemala, where she lived for ten years. Alicia holds a B.A. from Stanford University and a J.D. from Harvard Law School. Her interests are in the fields of business and human rights in Latin America and human rights-based approaches to economic development.

 

 

Increasing automation will change the composition of the US workforce. 49% of workers are in professions that face a high risk (greater than 70% probability) of computerization, defined as automation by computer-controlled equipment. 32% of US workers are in professions that face a very high risk (greater than 90%).

Women face greater risk of job loss due to computerization, and “lower risk” jobs typically dominated by women pay less than low risk male-dominated jobs. Our analysis revealed that women hold nearly 60% of jobs facing very high risk of computerization. Women also hold a greater percentage of jobs in very low risk professions (less than 10% chance of automation); the median annual income of those jobs is $27,000 less than that for low risk men’s jobs.

Developing “non-computerizable” skills minimizes exposure to automation risk over the long term and enables migration towards emerging sectors. Programs aiming to develop social and critical thinking skills offer a way for women to transition to lower risk jobs and access low risk male-dominated STEM fields.

There are a range of options available to investors who wish to influence this trend. Education technology (EdTech) funds and gender lens investing offer opportunities to investors concerned with the potential impact of automation on women. We offer a brief overview of the relevant investment approaches.

Figure 1: Computerization risk categories by gender in the US

ewing-automation-figure-1

Source:  Frey and Osborne, “The Future of Employment: How Susceptible Are Jobs to Computerisation?” Oxford University, September 2013; Bureau of Labor Statistics; Cornerstone Capital Group.

To download our complete report, click here.

Fiona Ewing recently completed an internship in the Research department of Cornerstone Capital Group, where she produced this original report while contributing to another major project. She is a rising senior at Dartmouth College, where she is pursuing a bachelor’s degree in Economics with a minor in Chinese. Previously she interned with Clarion Partners, focusing on strategy and research.

Sebastian Vanderzeil is a Global Thematic Analyst with Cornerstone Capital Group. He holds an MBA from New York University’s Stern School of Business. Previously, Sebastian was an economic consultant with global technical services group AECOM, where he advised on the development and finance of major infrastructure across Asia and Australia. Sebastian also worked with the Queensland State Government on water and climate issues prior to establishing Australia’s first government-owned carbon broker, Ecofund Queensland.

Held in observance of International Women’s Day, the 2016 WEPs Annual Event, Business Partners for Gender Equality: Multipliers for Development, brought together inspirational business leaders, including innovative female entrepreneurs, with civil society, the UN and Government, to scale-up business action and unleash the full potential of women and girls. Through high-level panels and interactive sessions, participants dove into how diverse companies around the world are implementing the Women’s Empowerment Principles (WEPs) and helping to achieve the new Sustainable Development Goals (SDGs), set forth in the 2030 Agenda for Sustainable Development. Day 2 was held at the Wyndham New Yorker Hotel. Joseph Keefe, President and Chief Executive Officer, Pax World Funds, introduces women leading business today. Erika Karp, Founder and Chief Executive Officer, Cornerstone Capital Inc., shares her story.

Sustainability and the IRO: Linking Diversity

A conversation at Bloomberg with Erika Karp, founder and CEO of Cornerstone Capital Group, and Greg Elders, senior ESG analyst with Bloomberg Intelligence

As a gay woman, investment executive and entrepreneur, Karp explains how diversity and sustainability are linked, because diversity of thought, experience, perspective and style allow for the observation of what’s going on in the world and bring energy, creativity and innovation to business and finance: ‘Diversity is painful but profitable.’

Investing Smart: Raising the Bar on Impact Investing Due Diligence

Moderator: Andy Serwer, Editor in Chief of Yahoo Finance

Speakers:

Adena T. Friedman, President of NASDAQ OMX Group

Erika Karp, Founder & CEO, Cornerstone Capital Inc.

Claudia Fan Munce, Managing Director of IBM Venture Capital Group

Vicki Escarra, Global CEO of Opportunity International