UTAM is pleased to be one of the 10 founding signatories of an investor statement on diversity and inclusion developed by the Responsible Investment Association (RIA). Signatories to the statement commit to advancing diversity and inclusion in their investment portfolios and their institutions.

In addition to UTAM, the founding signatories of the Canadian Investor Statement on Diversity & Inclusion include Addenda Capital, AGF Investments, Alberta Investment Management Corporation (AIMCo), Caisse de dépôt et placement du Québec (CDPQ), Desjardins Group, iA Clarington, Mackenzie Investments, NEI Investments and OPSEU Pension Trust (OPTrust). To date, a total of 31 institutional investors with $2.3 trillion in assets under management have endorsed the statement.

The statement acknowledges the existence of systemic racism and its impacts on Black and Indigenous communities and People of Colour in Canada and globally. It also acknowledges the existence of inequities and discrimination with respect to factors including, but not limited to, gender, sexual orientation, age, disability, religion, culture and socio-economic status.

Unlike other investor statements, this one requires signatories to commit to addressing issues of diversity and inclusion not only in their portfolios but also in their own organizations. “Promoting diversity and inclusion is not only the right thing to do; it is good for business and our society. A growing body of research shows that higher levels of diversity and inclusion are associated with improved corporate financial performance, driving growth, and strengthening employee engagement,” the statement reads. “Incorporating diversity and inclusion into business decisions can create opportunities for underrepresented groups while simultaneously contributing to leadership development, improved reputation, and a stronger governance and risk profile.”

Signatories also agree to encourage Canadian public companies to “lead in global efforts to address systemic inequities by advancing diversity and inclusion efforts and enhancing transparency and accountability.” Expectations of public companies include endeavouring to: enhance annual public disclosures of diversity data; adopt policies, targets and timelines to improve diversity on boards and in senior management; and expand and disclose organizational efforts to address barriers to diversity and inclusion.

Signatories themselves commit to engaging with Canadian investee companies to convey these expectations, integrating diversity and inclusion into their own investment processes, improving diversity and inclusion practices within their organizations, and reporting on and reviewing their efforts to promote diversity and inclusion.

The RIA is Canada’s industry association for responsible investment. UTAM has been an active member since 2016, and our Chief Operating Officer, Lisa Becker, serves on the RIA’s board of directors.

“Advocating for diversity and inclusion practices in investment portfolios aligns with our responsible investing approach and with our beliefs as an investment firm and employer,” says Lisa. “Practising diversity and inclusion makes business sense and is the right thing to do. We encourage other institutional investors to join this important initiative, and we look forward to the collective efforts of all signatories bringing about meaningful change.”