Recent events across the country have brought a national focus on systemic racism and social injustice. Our executive team is sharpening the focus on diversity and inclusion, knowing that, as the nation’s largest public pension fund, we have both a desire and an opportunity to be a leader in this area.
It starts by recognizing the importance of diversity and inclusion principles in our own culture. CalPERS has been at this for over 20 years now. We’ve seen first-hand the difference diversity within an inclusive culture makes. It ultimately benefits our members with whom we all work to serve with sensitivity and respect, day in and day out. That respect and acceptance extend to our employees, who are highly engaged in our mission to serve those who serve California.
The evidence for diversity and inclusion practices in our investment strategies is also clear. The more we advocate for diversity and inclusion policies with the thousands of companies we invest in, the better the financial performance of those companies overall.
But our efforts don’t stop there. We’re strong advocates for equitable health care for the 1.5 million covered lives enrolled in our health program, and we’re committed to equitable contracting opportunities with those we do business with.
To explore the extent of our efforts, view the 2019-20 Commitment to Diversity & Inclusion Report. It covers everything we’ve accomplished over the last year to cultivate a workplace where our teams can do their best work, as well as our external efforts to serve members through investment advocacy, contracting practices, and health equity.
Here are eight accomplishments you ought to know about:
- Created a Chief Diversity & Inclusion Officer position on the CalPERS Executive team.
- Established a Diversity & Inclusion Council to guide diversity and inclusion efforts across the enterprise.
- Developed an employee self-reporting survey to better identify the ethnicity, sexual orientation, and gender of our employees to foster a more engaging and fulfilling work culture.
- Launched CalPERS’ Upward Mobility Program to help entry-level team members navigate how to promote within the organization.
- Furthered our work in ensuring that governing boards of the companies we invest in reflect the diversity of each company’s business, customer base, workforce, and general population.
- Continued to work with the Securities and Exchange Commission and Congress to ensure diversity and inclusion is integrated into regulatory measures.
- Created a Health Demographic Profile in myCalPERS that allows health members to self-report their race, ethnicity, sexual orientation, and gender identity to help us achieve better health outcomes for all members.
- Provided equitable contracting opportunities for day-to-day operations.
Events and policies in our nation continue to demonstrate systemic racism and social injustice. In the face of these challenges, CalPERS stands against inequality and hate. We choose to engage team members, inspire open dialogue, and demonstrate our core values as we conduct business around the world. Never before has our commitment to diversity and inclusion been more important.