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.
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.
Salesforce.com, Inc. (CRM)
Salesforce is a customer relationship management company that engages in the provision of enterprise software.
- Women comprise 36 percent of Salesforce’s executive team and 25 percent of its board of directors.
- Salesforce was among the first companies in the U.S. to publicly commit to pay equity. The company conducts regular compensation assessments and is committed to closing any unexplained pay gaps. Following its most recent analysis, the company spent $2.7 million to adjust pay for 6 percent of employees globally. Salesforce is a member of the Employers for Pay Equity coalition and a signatory to the Paradigm for Parity pledge.
- To ensure leadership is engaged in the firm’s diversity efforts, Salesforce created a diversity scorecard, which is sent to its executive team on a monthly basis with their diversity numbers and progress.
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.