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Impact Investment Forum

Gender Lens Investing Workshop

Part 1 (theory and practice) Joy Anderson, Criterion Institute and special guests

27 August 2020

Gender Lens Investing Workshop

Joy Anderson, Founder and President, Criterion InstituteJoy Anderson is at the vanguard of gender lens investing, building the field through Asia, the Americas and Oceania. She is founder and president of Criterion Institute, the leading think tank on using finance as a tool for social change, which demonstrates new possibilities through its ground breaking research, innovative trainings, convenings and institutional engagement.

WelcomeCRITERION INSTITUTE

DEFINING GENDER LENS INVESTING

Integrating an analysis of gender and power into investment processes, structures, and analytics in order to get to better outcomes.

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GENDER ANALYSIS

A disciplined approach to understanding how relations between the genders,

and the resulting patterns, power dynamics, roles, and expectations,

work within cultures, societies, and economies.

The point is to see and analyze patterns.

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SEEING GENDER

1. Sex is biological, gender is cultural.

2. Gender is a “social construction;” therefore gender, what it means, and how it operates within culture can change.

3. Gendered patterns of behavior are shaped by norms, but also other social, cultural, and economic forces.

4. Norms are the expectations our culture ingrains into us about how the genders should behave. Patterns of behavior shift well before the norm shifts.

5. Gender biases presume inferiority based on sex.

6. Privilege (in a gendered context) presumes superiority or access based on sex.

7. Norms and biases can be held individually but then translate into structural inequities.

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INITIAL FRAMING OF GENDER LENS INVESTING

1. Women as an Opportunity not a Screen

2. Lenses of Opportunity: Products and services that benefit women and girls Access to capital Workplace equity

3. The Business Case for Diversity

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REFRAMES

1.Moving from Counting to Valuing

2.Imagining the Future of Gender

3.Gender Patterns Informing Risk (not only upside)

4.Not Just Internal Risk, but Market Risk

5.Analyze Power not Identity

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INTRODUCING DATA AND ELIMINATING BIAS FROM HOW VALUE IS ASSIGNED

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THE CASE FOR THE MATERIALITY OF DIVERSITY

HAS BEEN MADE.GO FORTH AND IMPLEMENT.

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http://www.jackizehner.com/wp-content/uploads/2020/03/Case-

Closed_-The-Evidence-is-in-for-Women-and-Girls.pdf

10 PTS OF MATERIALITY

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Trends that have a research base to prove materiality

Relevance to the recovery and investments

Indicators to track the strength of the recovery

1

If women either drop out or can’t reenter the workforce, economies will be slower to recover.

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2

Investments in women-led businesses are an investment in resilient economic recovery.

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3

Increasing demand for unpaid care contracts or slows economic growth.

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4

Companies that mitigate the potential gendered consequences of remote work will be better positioned in the “new normal.”

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5

Through response and recovery, women will continue to be the dominant purchasers of essential goods and services.

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6

The shifts in the economy are revealing investment opportunities in the care economy. Smart investors won’t undervalue them.

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7

Technology is gendered. As businesses and investors look to tech solutions in the current context, a gender lens will reveal opportunities and mitigate risks.

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8

Infrastructure is gendered. As governments and private investors move capital to infrastructure projects, a gender lens will reveal opportunities and mitigate risks.

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9

Those investing in sector-level recovery will build back more stable sectors if inequities are addressed.

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10

Whether countries respond effectively to increases in gender-based violence during this crisis is an indicator of their future political stability.

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GENDER-BASED VIOLENCE AND INVESTMENT RISK

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WHERE IS THE NEXT BLOW UP

IN #METOO THAT WILL

AFFECT STOCK PRICE?

Partnership with Christian Super to develop a methodology to look at the investment risks in public equities tied to sexual assault and sexual violence in the workplace

The answer?

Watch culture shifts

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GENDER IS NOT STATIC

Imagine the future of gender

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BREAK OUT CONVERSATIONS

What were your insights?

How can you shift your analysis to be able to incorporate a gender analysis in how you value risk and return over time?

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PANELISTS!!!

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Panel:

Daniela Jaramillo, Senior Responsible Investment Adviser at HESTA

Gender Lens Investing Workshop

Matt Patsky, CEO and a Portfolio Manager at Trillium Asset Management

Tim Macready, Chief Investment Officer at Brightlight Group

BREAKOUT CONVERSATIONS

Reflect on the conversation.

What do you need to do to build your gender lens investing approach?

What’s needed to build the field of gender lens investing in Australia?

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DESIGNING A GENDER LENS INVESTING ACTION PLAN

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NAME YOUR INVESTMENT THESIS

What gender patterns are most relevant to your investment approach?

What is your picture of the future?

How do you invest now to capture value in that future?

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EXAMINE YOUR INVESTMENT PROCESS

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Pipeline development

ScreeningDue

diligenceStructuring

Decision making

Post-investment engagement

Exits

MAINSTREAMING BEST PRACTICES

Vision and mission related to beginning gender mainstreaming

Senior leadership buy-in

Focal person(s) and resources allocated

Team accountabilities and incentives

Policies, structures, and culture that support or hinder mainstreaming efforts

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ATTRACTING CAPITAL

Where does a gender lens fit into the value proposition you share externally with asset holders?

How might you engage gender lens investors?

How might you shape how asset holders to think differently about a gender lens?

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BUILDING THE FIELD OF

GENDER LENS INVESTING IN

AUSTRALIA

More asset owners are interested in gender

More managers are needed who bring a strong gender lens

Focus must broaden beyond the equitable workplace

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THANK YOU

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Wrap up

Join us for:Part 2 (Applied clinic)Thursday 3 September 9:00-10:00 AEST