Pax Large Cap Fund Company Examples
Across all Pax World Funds, we fully integrate environmental, social and governance (ESG) factors into investment analysis and portfolio construction. The result, we believe, is an increased level of scrutiny that helps us construct investment portfolios made up of better-managed companies that are leaders in their industries, meet positive standards of corporate responsibility and are more focused on the long term.
Below are companies in the Pax Large Cap Fund (PXLIX) that we believe are taking advantage of sustainability-related opportunities or taking appropriate steps to address key ESG issues.
We are encouraged by the progress of these companies as they make their operations more sustainable, but we recognize that more can be done. That’s why we engage with companies on sustainability issues and ask for information about policies, programs and performance data.
Accenture PLC (ACN)
Accenture PLC provides management and technology consulting services and solutions. The company delivers a range of specialized capabilities and solutions to clients across all industries on a worldwide basis. Accenture operates a network of businesses that provide consulting, technology, outsourcing, and alliances.
- Accenture is well-positioned to benefit from increased demand for cloud-related services and cybersecurity transformation, both of which are critical to the digital transformation.
- In September 2019, Accenture committed to using 100 percent renewable energy across its global operations by 2023. The company has also set a science-based target, approved by the Science-Based Targets Initiative, to reduce its greenhouse gas emissions 11 percent by 2025. To date, Accenture is the largest professional services company to make this type of commitment.
- Accenture has recognized that diversity is a critical driver of innovation and was an early signatory to the UN Women’s Empowerment Principles. The company has set diversity targets that include achieving a gender balanced workforce by 2025 and increasing the percentage of women managing directors to 25 percent by 2020.
Eaton Corp PLC (ETN)
Eaton Corporation PLC manufactures engineered products for the industrial, vehicle, construction, commercial and aerospace markets.
- Eaton provides energy-efficient solutions that help its customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably.
- Eaton has set a science-based target to reduce greenhouse gas (GHG) emissions and supports collective actions to reduce GHG emissions to address the risks of climate change.
- The company has implemented programs, including Design for Environment (DfE) and Lifecycle Assessment (LCA), to gain an in-depth understanding of the environmental impacts of its products and their production processes.
Voya Financial (VOYA)
Voya Financial provides retirement planning, investment and insurance services. The company offers asset accumulation, protection and distribution products and services to individual and institutional customers in the United States.
- Women comprise 50 percent of the company’s executive management team and 44 percent of its board of directors.
- In 2018 and 2019, Voya Financial aims to further its diversity and inclusion efforts by establishing partnerships with nonprofit and industry associations dedicated to identifying diverse candidates, ensuring a diverse slate of candidates is presented for all open positions and conducting unconscious employee bias training.
- As part of its strategy to measure and manage the environmental impacts of its business operations, Voya Financial became carbon neutral for scope 1 and 2 greenhouse gas emissions in 2017. The company is working to develop science-based energy, waste, recycling and/or water commitments. Announcement of one or more commitments is on target for release by 2020.
Holdings are subject to change.