Windy City Media Group Frontpage News


home search facebook twitter join
Gay News Sponsor Windy City Times 2022-06-08



Social-impact investing is focus of Out in Finance discussion
by Carrie Maxwell, Windy City Times

This article shared 2744 times since Mon Jan 27, 2020
facebook twitter pin it google +1 reddit email

The emerging world of environmental, social and governance ( ESG ) investing was the focus of an Out in Finance panel discussion Jan. 23 at Legal & General Investment Management America's ( LGIMA's ) Chicago headquarters.

Founded in 2019, Out in Finance is a Chicago-based financial services industry organization focused on LGBTQ inclusion and equality. Among Out in Finance's goals are advancement of LGBTQ-friendly workplace policies, event collaboration with financial firms and community engagement.

Out in Finance Programming Committee Co-chair Duggan Everage was the event moderator. Panelists included LGIMA US Stewardship and Sustainable Investments Head John Hoeppner, MSCI Chicago-based ESG Client Coverage Vice President Chris Knowland and Impact Engine Private Equity Managing Partner Priya Parrish.

Ahead of the discussion, LGIMA CEO Aaron Meder told the approximately 100 attendees that the company is one of the largest asset managers in the world and ESG investing and diversity and inclusion efforts are its top priorities.

Knowland said 2019 was a breakout year for this kind of investing, adding that at MSCI there are about 200 people on the ESG research team globally and one of their tasks is to look at the good things companies do in this arena.

According to Hoeppner, LGIMA stitches the ESG concept together with a "three broad buckets framework"—integration, stewardship and solutions. In terms of integration, Hoeppner said it is taking new data and making different buy/sell decisions, while stewardship means how one uses their investments to change the market.

Parrish spoke about how coming out of the closet as a queer person opened her eyes to the social injustices happening in the world. This led Parrish to ask why one cannot take the for-profit business models and apply it to social issues because non-profits are often inefficient and the government "trips all over itself."

"The difference between impact investing [which I am focused on] and ESG's is there is an explicit objective that you are trying to generate a measurable, enduring social outcome and a financial return," said Parrish.

Everage asked if there were any examples of a company that had an issue that investors helped to change for the better.

Parrish said that shareholder proposals beginning in 1992 led Cracker Barrel to become a more LGBTQ-inclusive company for both employees and customers.

In terms of the lack of data on LGBTQ people under the ESG umbrella, Knowland said that while there are percentage targets for gender and racial diversity within companies that is not true when it comes to sexual orientation and gender identity.

Hoeppner said that even if the LGBTQ data was out there it might not be used.

The questions Hoppner posed were "How do you tie human rights of a corporation to long-term value creation?," "What is the narrative?" and "Is it around brand reputation or productivity or risk management?"

Hoeppner used Amazon as an example of a company with many human- rights violations and said that on the investment side his question is what data does he want to see in order to push them to do better—adding that, right now, that is not clear.

He also spoke about how LGIMA has rolled out a climate-impact pledge that looks at a company's climate risk. It turned out that Kroger was a "poor player" because they did not have a deforestation policy for their suppliers; however, when it was brought to its attention, the policy changed.

A Q&A session followed.

See .

This article shared 2744 times since Mon Jan 27, 2020
facebook twitter pin it google +1 reddit email


Gay News

HRC report: Wage for LGBTQ+ women is 79 cents to the average man's dollar 2022-06-22
-- From a press release - WASHINGTON - Today, the Human Rights Campaign (HRC) Foundation, the educational arm of the nation's largest lesbian, gay, bisexual, transgender and queer (LGBTQ+) civil rights organization, released new data outlining ...

Gay News

The Andersonville Village Market returns for summer 2022 2022-06-21
-- From a press release - CHICAGO (June 21, 2022) The Andersonville Chamber of Commerce (ACC) is pleased to welcome back its 2nd annual Andersonville Vintage Market, featuring antiques, home décor, jewelry, accessories, clothing, music and ...

Gay News

New report looks at LGBTQ+ restaurant workers and job risks they face 2022-06-15
-- From a press release - Today, One Fair Wage, a national nonprofit representing tipped subminimum wage restaurant workers, released a new report on the harsh realities of being a LGBTQ+ restaurant worker. The report shows that the subminimum wage encourages rampant ...

Gay News

Venture capital firm 'Colorful Capital' launches with a focus on undervalued companies led by LGBTQ+ founders 2022-06-09
-- From a press release - EVANSTON, IL — JUNE 8, 2022 — With LGBTQ+ founders receiving less than 1% of U.S. venture funding, Colorful Capital launched today with a mission of delivering capital and support to an undervalued community of business ...

Gay News

Molson Coors hosts return to Tap Into Change program 2022-06-09
- Molson Coors recently marked the return of its Tap Into Change Program—in which proceeds of sales from Molson Coors products at select locations are donated to local LGBTQ+ non-profit organizations—by hosting a kickoff event at the ...

Gay News

ELECTIONS 2022 Democratic Gubernatorial race: Gov. JB Pritzker talks record, future plans if re-elected 2022-06-05
- Gov. JB Pritzker is running for re-election in the Democratic primary against challenger Beverly Miles. Prior to becoming governor, Pritzker spearheaded the creation of the non-profit business incubator 1871 and was the co-founder and managing partner ...

Gay News

WORLD Grindr ads, British mayor, Billie Jean King, Australian awards 2022-06-05
- In Australia, a retail worker-turned-Greens politician credited catchy ads on gay hookup app Grindr for his stunning victory in Brisbane, The Daily Mail noted. Stephen Bates defeated Liberal-National Party incumbent Trevor Evans in the inner-city seat ...

Gay News

Pritzker, Stratton visit queer-owned businesses in Andersonville 2022-06-04
-- From a press release - Chicago, IL — Following visits to several queer-owned small businesses in Chicago's Andersonville neighborhood, Illinois Gov. JB Pritzker and Lt. Governor Juliana Stratton reaffirmed their commitment to Illinois' LGBTQ+ community ...

Gay News

HRC, Showtime launch third year of QUEER TO STAY, an LGBTQ+ small business initiative 2022-06-03
-- From a press release - WASHINGTON — Today, the Human Rights Campaign (HRC), the nation's largest lesbian, gay, bisexual, transgender and queer (LGBTQ+) civil rights organization, and SHOWTIME announced the third consecutive year of "QUEER ...

Gay News

20th OUT of the Office held at The Godfrey 2022-06-02
- Andrew Hayes, founder and producer of OUT of the Office, rebounded with a fabulous 20th anniversary event after a two-year COVID-19-imposed hiatus. The June 1 celebration, at The Godfrey Hotel in River North, attracted more than ...

Gay News

U.S. Chamber of Commerce report: 72% of small biz willing to lose customers over pro-LGBTQ+ policies 2022-06-01
-- From a press release - The U.S. Chamber of Commerce ( has released its Special Report on Small Business and LGBTQ+ Inclusion, focusing on how the small business community has increased inclusivity initiatives, non-discrimination policies ...

Gay News

GLAAD: True LGBTQ allyship extends to all aspects of business, including political giving 2022-05-31
-- From a press release - Tuesday, May 31, 2022 (New York, NY)—GLAAD, the world's largest lesbian, gay, bisexual, transgender, and queer (LGBTQ) media advocacy organization, today announces GLAAD's Recommendations for Corporate Allies to educate corpo ...

Gay News

State Farm drops GenderCool Project; Illinois General Assembly LGBTQ Caucus, Equality Illinois respond 2022-05-26
- This week in response to an outcry from a hateful few, Illinois-based insurer State Farm dropped their support for The GenderCool Project, which provides LGBTQ-affirming books to schools across the country on a voluntary basis. We ...

Gay News

Molson Coors to host Tap Into Change program kickoff at Roscoe's 2022-05-24
-- From a press release - With Pride Month right around the corner, Molson Coors is celebrating the return of its Tap Into Change Program, a program in which proceeds of sales from Molson Coors products at select locations are donated to ...

Gay News

Leather business 64TEN to name street after Ed Negron on May 30 2022-05-14
- On May 25-30, leather shop 64TEN, 6410 N. Clark St., will mark its 21st anniversary. The celebrations will coincide with the International Mr. Leather (IML)/Memorial Day holiday weekend. ...


Copyright © 2022 Windy City Media Group. All rights reserved.
Reprint by permission only. PDFs for back issues are downloadable from
our online archives. Single copies of back issues in print form are
available for $4 per issue, older than one month for $6 if available,
by check to the mailing address listed below.

Return postage must accompany all manuscripts, drawings, and
photographs submitted if they are to be returned, and no
responsibility may be assumed for unsolicited materials.
All rights to letters, art and photos sent to Nightspots
(Chicago GLBT Nightlife News) and Windy City Times (a Chicago
Gay and Lesbian News and Feature Publication) will be treated
as unconditionally assigned for publication purposes and as such,
subject to editing and comment. The opinions expressed by the
columnists, cartoonists, letter writers, and commentators are
their own and do not necessarily reflect the position of Nightspots
(Chicago GLBT Nightlife News) and Windy City Times (a Chicago Gay,
Lesbian, Bisexual and Transegender News and Feature Publication).

The appearance of a name, image or photo of a person or group in
Nightspots (Chicago GLBT Nightlife News) and Windy City Times
(a Chicago Gay, Lesbian, Bisexual and Transgender News and Feature
Publication) does not indicate the sexual orientation of such
individuals or groups. While we encourage readers to support the
advertisers who make this newspaper possible, Nightspots (Chicago
GLBT Nightlife News) and Windy City Times (a Chicago Gay, Lesbian
News and Feature Publication) cannot accept responsibility for
any advertising claims or promotions.






About WCMG      Contact Us      Online Front  Page      Windy City  Times      Nightspots
Identity      BLACKlines      En La Vida      Archives      Advanced Search     
Windy City Queercast      Queercast Archives     
Press  Releases      Join WCMG  Email List      Email Blast      Blogs     
Upcoming Events      Todays Events      Ongoing Events      Bar Guide      Community Groups      In Memoriam     
Privacy Policy     

Windy City Media Group publishes Windy City Times,
The Bi-Weekly Voice of the Gay, Lesbian, Bisexual and Trans Community.
5315 N. Clark St. #192, Chicago, IL 60640-2113 • PH (773) 871-7610 • FAX (773) 871-7609.