PORTSMOUTH, N.H., November 26, 2019 – Impax Asset Management LLC, investment adviser to Pax World Funds and a leader in the field of sustainable investing, today announced the results of the November 2019 annual reconstitution of the Impax Global Women’s Leadership Index (the Index).
The Impax Global Women’s Leadership Index is the first index consisting of the highest-rated companies in the world for advancing women’s leadership. Impax Gender Analytics rates companies on five factors: representation by women on the board of directors, representation of women in executive management, presence of woman CFOs and CEOs, and whether they are signatories to the UN Women’s Empowerment Principles* and/or disclose gender data consistent with the Women’s Empowerment Principles. Companies in the Index also meet threshold environmental, social and governance (ESG) standards, and the Index excludes weapons, tobacco and fossil fuel companies.
The Index compares favorably to the MSCI World Index† on several key gender leadership indicators. For example, among Index companies, women hold 38 percent of board seats and 29 percent of senior management positions, as compared to 25 percent and 17 percent,1 respectively, for companies in the MSCI World Index. Ninety-five percent of companies in the Index have three or more women on the board, compared with 51 percent for companies in the MSCI World Index. Thirty-four percent of companies in the Index have a woman CEO or CFO, compared with 16 percent of companies in the MSCI World Index.
A comprehensive list of the changes to the Index, including additions and deletions, has been posted to the Pax World Funds website. Sixty-eight securities will be added to the Index and 56 will be deleted as a result of the annual reconstitution.
About Impax Asset Management LLC
Impax Asset Management LLC, formerly Pax World Management LLC, is a pioneer in the field of sustainable investing. Impax offers a diverse lineup of strategies focused on the risks and opportunities arising from the transition to a more sustainable global economy. Each strategy integrates environmental, social and governance (ESG) research into the investment process to better manage risk and deliver competitive long-term investment performance.
1 MSCI World Index, Impax Gender Analytics, 2019.
†The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. The MSCI World Index consists of the following 23 developed market country indexes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. One cannot invest directly in an index.
*A joint initiative of the UN Global Compact and UN Women
Impax Asset Management LLC, formerly Pax World Management LLC, is investment adviser to Pax World Funds.
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