July 25, 2018 // Boston, MA
Trillium is pleased to announce that as of July 24th, 2018 all of the companies held in our Large Cap Core and All Cap Core strategies have workplace policies that protect LGBT employees from discrimination. Specifically, these companies explicitly name sexual orientation and gender identity or expression in their Equal Employment Opportunity (EEO) policies. In most states it is perfectly legal to be fired for being an LGBT person however, company-wide policies can shield employees from the inconsistent state and local legislation.
1995 is when Trillium began engaging portfolio companies regarding LGBT protections and workplace policies. By working with other investors, through dialogue and shareholder proposals, Trillium’s engagement has helped move dozens of Fortune 500 corporations to implement fully inclusive EEO policies. Today companies like Amgen, Factset, First Republic Bank, J.B. Hunt, Lowes, United Natural Foods, Palo Alto Networks and many more now have fully inclusive workplace policies due to our engagement.
In addition, studies have demonstrated that on the whole LGBT people are paid less than straight people. So as economic and income inequality has increased in this country, LGBT people have struggled more than most Americans. This reality is exacerbated by another fact, which is that in most states it is still legal to fire someone or otherwise discriminate against them in the workplace for their sexual orientation or gender identity/expression.
We believe that equality, diversity, and inclusiveness are fundamental elements of a successful workplace, community, and capital markets system. Research has shown that corporate policies that foster inclusive workplaces by supporting LGBT employees lead to more positive business outcomes, lower staff turnover, and increased job satisfaction and productivity.
Nearly 91% of Fortune 500 companies have adopted inclusive non-discrimination policies protecting their employees on the basis of sexual orientation and 83% of Fortune 500 companies include gender identity. The evidence is overwhelming that inclusive corporate and public policy that embraces diversity and equality are essential to strong businesses and financial success.
Important Disclosure: This is not a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. The specific securities were selected on an objective basis and do not represent all of the securities purchased, sold or recommended for advisory clients. The views expressed are not intended to be a forecast of future events or a guarantee of future results. These views may not be relied upon as investment advice. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report