• December 10, 2023

How the Power of Data Will Advance Diversity, Equity and Inclusion

NoAsdaq’s diversity and inclusion data is now available to its investors free of charge and offers standardized, qualitative and quantitative data.

In a broad discussion in the CalPERS / CalSTRS Diversity Forum, Lauren Dillard, Head of Investment Intelligence and Executive Vice President of Nasdaq, shared with Marlene Timberlake D’Adamo, Chief Diversity, Equity & Inclusion Officer at CalPERS, her insights into the Nasdaq programs to support diversity, equity and inclusion in the workplace, their relevance for partnerships and customer relationships and how this affects the data industry.

In creating the data set, Dillard found that the team focused on “How are we doing? [the data] easier how do we streamline? [the data]How do we work together as a coalition and partnership to bring this data to the public in a standard form. “

Dillard argued that diversity and inclusion data should be standardized for both public and private investors in order to normalize the data and avoid friction losses from the process. She shared how Nasdaq published a D&I questionnaire to wealth managers on its eVestment platform in January and that 20% of managers reporting data to eVestment responded – a positive result in such a short time.

These Data is free and accessible through eVestment. The data is quantitative, including statistics on portfolio team composition and corporate governance. It also provides information and narration on corporate mentoring programs to encourage underrepresented groups.

In addition, Nasdaq prioritizes qualitative data as well as quantitative. Dillard said the qualitative component includes questions, “What are your hiring practices like? Do you measure your internal employees? What guidelines do you have? “And this affects the quantitative data on” the number of portfolio managers who invest, the diversity of the board that makes up the board, who is on the management team “.

D’Adamo asked what trends Dillard had identified in the Nasdaq data and how these could affect the future. Dillard said, “These numbers better reflect society, better who the beneficiaries are investing for. The only way to do that is by measuring numbers. ”It starts with transparency, especially as investors ask for information to make better voting and investment decisions, she said.

The hope is that “diversity statistics will continue to improve and become more like the people we invest for and the communities we serve,” she said, emphasizing that the key to meaningful change is through the power of data first There is a standardized framework in the provision so that the data can be easily collected, accessed and measured.

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