Thomson Reuters, Patsy Dora, Motech discussed on Mottek on Money
KNX ten seventy NewsRadio right now. We have sixty seven degrees in studio city. Culver city is at sixty six degrees at sixty two degrees in Agoura hills at eleven forty six as we get back to more Motech on money. Motech money continues as Frank Motech corporate, social responsibility matters more than ever at the age of the metoo movement in corporate America, so says Patsy door leading expert in the field of social impact corporate, social responsibility, diversity and inclusion and sustainability she oversees all of those functions at Thomson Reuters. She's also a Forbes magazine contributor and wrote about the subject recently. She also gave the keynote presentation at the recent state association of county retirement systems conference Patsy Dora. Thank you very much for joining me here this weekend and tell us about all these hot topics at the workplace these days. This is a critical an exciting time for these topics. Right because what's happening given the geopolitical environment that we're faced with on a global basis rising voices. Whether it's me too movement or otherwise, and certainly the rise of impact investing social impact is becoming that much more important for organizations to really take it seriously. And so what we're focusing on is how do you do that best and what organizations are doing it? Well, and why should organizations care about this stuff? Tells about the impact the metoo movement is having on corporate American it's beans that corporations have to take this stuff. Seriously. Right. So at the end of the day women's voices are rising we realized that they're fifty percent of the population, obviously. But certainly they represent a lot lower percentage and it varies by organization, but using the twenty s in terms of senior leadership positions, and it's a time where we need to address these issues at a faster pace than ever before it tells about the impact of the last election and more women being elected to congress and so forth. And what impact do you see that? I think that's great. And I I'm an optimist. So I think great things are happening. And the fact that there's more than one hundred women now in office is fantastic. I think it says a lot that these voices are getting louder and louder and women want to have a see that the table not only in corporations, but certainly in the government, and what he thinks should be some of the priorities in Washington to address some of the big issues we've heard about in the last year, or so, well, I think a couple of things first of all I believe very strongly that corporations have the biggest role to play here. But the other. Is really having those public private partnerships, and with example of California and the governor recently just about a month ago. Putting in place a requirement for women on boards. These are the types of things we want to see happening. That's the first state in the United States. I'd love to see other states followed suit. I think unfortunately, to be really honest, we need to put legislation in place at this point because we're just not making the progress we need to do you see any other states following California's lead on that? Well, other states are discussing. I I'm not sure I know of any particular state that's discussing it seriously at this point. But yeah, I suspect that we will see that change particularly in light of the election in light of this bold move, which is only a month old that we will see more states coming forward as far as socially responsible investing. The challenge is always been getting returns on those investments and give us an update on how things are going in that world these days. So that is also changing impact investing is on the rise. It's now a two hundred and fifty billion dollar industry on the rise at eighteen percent year on year increase. So what's happening is people? Are starting to see there is a positive correlation between social impact and the bottom line. We can't say there's a causation yet. But we can certainly say there's a positive correlation. People are starting to see investors in particular are starting to see that over time. The financial performance increases by investing in social impact. Give us some examples of the hot topics in that world getting away from gun companies, for example, or tobacco companies. What are some of the other hot topics in that area? That's a great one supply chain is the big topic. Right. So human trafficking and supply chain, particularly given the globalization of large organizations and not being able to fully understand or appreciate all of the depth and complexity of the supply chain to build out products. And so that's really really a hot topic. And there's multiple aspects to that. How do you monitor it how do you track? It. How do you make sure that things like human trafficking, and modern slavery, given the minds modern slavery act, for example, are not happening. That's the hottest topic today in that world should companies are to be vigilant or should we wait for Washington? What's your view on that companies need to be vigilant? Now, I'm coming from a corporate perspective, that's my background. And I believe that our role is stronger than ever an absolutely needed. We need to work not only as individual organizations, but as a collective to basically say in a perfect example of that is that three thousand companies have signed onto the UN global compact, which is basically committing to the sustainable development goals that were released by the UN three years ago. So you're starting to see this movement of companies coming together saying we're gonna do this. And we're gonna take it seriously since you follow this world so closely other companies that are shining examples of doing things, right? I get that question a lot, and I hesitate to answer it because I think every company has a good story to tell and some companies are doing it better than others industry-wide, historically, technology and financial services have struggled most with these topics. But that's absolutely changing. I can state that having. So what I just said that we did develop a diversity inclusion index a couple of years ago and the top four companies are Accenture. Medtronic's DIGOS and gap, and you can see to those four it's all different industries. So it's interesting times. That's your thank you very much for joining us here this weekend, absolutely anytime. Thank you. That's Patsy door who oversees corporate social responsibility diversity and inclusion and sustainability functions at Thomson Reuters coming up a preview the week ahead on the business scene that Amores straight ahead on Motech on money from Anaheim.