Ben Redgell’s Post

Today is a milestone for the world economy, thanks to the keen investigation by my friend, Ken Janssens and a dedicated team of co-researchers, Jude Seimon and Jon Miller, on behalf of Open for Business. Check out the report entitled "Investor Guide to LGBTQ+ Inclusion”. This work evaluated 290 of the largest, listed American, British, German, and Australian companies and will actually debut today at the World Economic Forum in Davos hosted jointly by GLAAD, HRC, Open for Business and the Partnership for Global LGBTQI Equality (PGLE). A key finding of the research is a significant link between LGBTQ+ transparency in ESG reporting and superior business performance. The report also details 44 strategies and practices, framed around nine key questions to assess LGBTQ+ Inclusion in Investee Companies and resulting in these four major findings: 1️⃣ Forget ‘Go Woke, Go Broke’: companies with the top 25 LGBTQ+ Transparency Scores are 2.3 times more profitable than the bottom 25. 2️⃣ DEI isn’t dead: 92% of companies now list DEI as a material issue. This means they believe that poor performance on DEI could threaten the long-term viability of their business and social license to operate. 3️⃣ Follow the money – global LGBTQ+ consumer spending power is growing and eclipses the GDP of many leading economies. 4️⃣ ESG isn’t a ‘fad’ – investor interest in LGBTQ+ inclusion is increasing. This report is a key resource for investors, corporate leaders, and policymakers, as well as civil society organisations seeking to understand and leverage the power of LGBTQ+ inclusion not just as a moral imperative but as a strategic business practice. #LGBTQInclusion #ESG #BusinessPerformance #Davos #WEF #InvestorGuide #OpenForBusiness

🌍 At Koppa - The LGBTI+ Economic Power Lab, we're constantly seeking pioneering research that aligns with our economic empowerment and inclusion mission for LGBTI+ communities. We're thrilled to spotlight the "Open For Business Investor Guide to LGBTQ+ Inclusion." 🌈 Released at #Davos by Jon Miller, Jude Seimon and Dominic Arnall, this report is a game-changer. It showcases how integrating LGBTQ+ policies into business strategies isn't just a nod to inclusivity — it's a blueprint for economic success. The findings underscore what we've always believed at Koppa: inclusion drives prosperity. 📊 Key Insights from the Report: Companies with top-tier LGBTQ+ Transparency are 2.3 times more profitable than their least transparent counterparts. A staggering 92% of businesses recognize DEI as crucial for long-term survival and growth. 💡 Why It Matters: This isn't about jumping on a bandwagon. It's about acknowledging that LGBTQ+ inclusion and sustainable business practices are fundamental to thriving in today's global market. 🚀 Action Steps for Companies: Leverage LGBTQ+ inclusivity as a core component of your ESG strategies. Recognize the rich diversity within your workforce as a source of innovation and strength. 🤝 Let's Discuss: We'd love your thoughts on how LGBTQ+ inclusion shapes your business strategies and policies. Join the conversation below! 🔗 https://lnkd.in/fRHKaRQ #LGBTQInclusion #ESG #EconomicEmpowerment #KoppaLab #DiversityAndInclusion

🌈 Excited to unveil insights from the "Open For Business Investor Guide to LGBTQ+ Inclusion" launched at #Davos this week! As a Senior Advisor to the OfB Board of Trustees, I am proud to see how this global LGBTQ+ business platform of CEOs and multinational companies is changing the narrative on ESG and DEI. Congratulations to Dominic Arnall, Jon Miller, and Jude Seimon for continuing to drive equality forward. Here's the bottom line: Companies are in the business of maximizing returns and cutting risks, and both sustainability and inclusion have proven their worth in this arena. Opposing ESG and LGBTQ+ inclusion isn't just resisting change; it's bad for business. Leaders haven't just been riding a trend; they've been making smart, strategic choices because these policies are crucial to business success. 📊 Key Findings: - The top 25 companies for LGBTQ+ Transparency are 2.3x more profitable than the bottom 25. - 92% of companies recognize DEI as crucial for long-term viability. 💡 What This Means: Despite Elon Musk's ranting, LGBTQ+ inclusion is not just morally right; it's innovative business. It enhances brand reputation, higher profits, and better talent acquisition. 🚀 Action Steps: - Integrate LGBTQ+ policies in ESG strategies. - Embrace diversity to unlock potential. 👥 Your Thoughts? How does LGBTQ+ inclusion impact your business strategies? Share your insights below! 🔗 https://lnkd.in/e3euZSfT #LGBTQInclusion #ESG #BusinessGrowth #DiversityAndInclusion

📢 A new report presented by Open For Business demonstrates a link between inclusion and profitability 💡 The report analysed how 290 major companies across America, UK, Germany and Australia, integrate LGBTQ+ inclusion into their ESG (Environmental, Social, and Governance) practices. It shows that the top 25 corporations in LGBTQ+ transparency were 2.3 times more profitable than the bottom 25! Report findings also reinforce the notion that LGBTQ+ inclusive companies excel in attracting and retaining top talent. The report underscores the economic value of embracing diversity and inclusion in the workplace. FULL REPORT: https://lnkd.in/fRHKaRQ Legal Island’s Diversity & Inclusion - The Importance of Conscious Inclusion eLearning course will help your staff understand the importance of inclusive behaviour in the workplace and the value it brings to both your staff and your organisation. Access a free demo on behalf of your organisation here: NI – https://lnkd.in/ejrrmnDk ROI – https://lnkd.in/eaYWz9kW

Yet again, Alex Edmans tells uncomfortable truths. I am a huge advocate for inclusion, including LGBTQ+ inclusion in the workplace. So I would love to believe this latest report that purportedly shows financial benefits for firms who have greater LGBTQ+ inclusive policies. But, as with many such reports, there are fundamental flaws in the “research”, which Alex points out. It may well be the case that those firms who have progressive, inclusive LGBTQ+ policies have better financial returns, but I know of no robust evidence that shows that this is the case. Does this weaken the argument that organisations should introduce policies and practices that support its LGBTQ+ talent to fulfil their potential? Absolutely not. In order to attract, motivate and support all talent, organisations should continue to focus on creating and sustaining an inclusive workplace, for its LGBTQ+ talent (indeed, all of its people). LGBT Great #lgbtqinclusion

It's International Day Against Homophobia, Transphobia and Biphobia #IDAHOTB - a day to celebrate LGBTQ+ people globally, and importantly raise awareness about the discrimination, violence, and challenges still experienced by this community. Organizations play a critical role in advancing LGBTQ+ equality – as a business imperative yes, but also critical now more than ever in the wake of growing DE&I and #ESG backlash and politicization. A recent report by Open For Business examines how 290 major companies across four countries integrate LGBTQ+ inclusion within their ESG strategies, with key data on the correlation between inclusion and business performance. Some compelling data for leaders to take a very hard look at: ✔ Companies that are transparent on LGBTQ+ inclusion have superior financial performance, improved brand reputation, and enhanced talent attraction. ✔ Many ‘S in ESG’ issues disproportionately affect the LGBTQ+ community – human rights, access to finance, and access to healthcare – and this report also looks at how companies are choosing to tackle these issues. ✔ #DEI listed as a material issue in 92% of company materiality assessments. What makes this so striking? It means companies believe that poor DE&I performance could threaten the long-term viability of their business and social license to operate. I highly suggest a read:

Open For Business are enormously proud to launch: “The Investor’s Guide to LGBTQ+ Inclusion”. The report, written by Ken Janssens and Jon Miller and sponsored by Deutsche Bank: ✔️ Explores the correlation between LGBTQ+ transparency and profitability ✔️ Examines the integration of LGBTQ+ inclusion in ESG strategies ✔️Provides a framework for investors to evaluate companies on LGBTQ+ inclusion. The key findings of the report were: 💡The top 25 companies in terms of LGBTQ+ transparency were 2.3 times more profitable than the bottom 25. 💡 92% of businesses in the FTSE 100, Fortune 100, ASX50 and DAX40 consider DEI to be a “material issue” 💡 Global LGBTQ+ consumer spend is growing and is larger than many of the world’s stringest economies 💡 A majority of companies have already moved beyond baseline on ESG 💡 There is an increasing focus on ESG and trans inclusion with many employers choosing to provide full heathcare coverage to their trans employees DOWNLOAD NOW: https://lnkd.in/fRHKaRQ

Unfortunately, this is another very flimsy report that has been lapped up uncritically due to confirmation bias, particularly by the Davos crowd where it launched. The headline result is that "companies with the top 25 LGBTQ+ Transparency Scores are 2.3 times more profitable than the bottom 25". However: 1. They are measuring LGBTQ+ transparency, not actual LGBTQ+ performance. For example, having policies is meaningless if they are not implemented or if they are not stretching. My own work on DEI finds that actual DEI perceptions (including whether employees believe they are treated fairly irrespective of their sexual orientation) has very little correlation with simple disclosures. 2. The measure of performance - profits as a % of revenue - is crazy. If profits are compared to something, it is typically assets (leading to return on assets) or equity (leading to return on equity). Accounting 101 tells you that ROA = Profit Margin (profits/revenue) x Asset Turnover (revenue/assets). Completely ignoring the latter - how much revenue you generate from your assets, is nonsensical and makes you wonder whether the authors tried many measures and hand-picked the one that worked. 3. There are no controls. Larger companies could be more profitable, and able to allocate more resources to LGBTQ+ policies. New economy industries could be more profitable, and also LGBTQ+ inclusion is particularly important in such industries so they prioritise developing such policies. 4. There could be reverse causality. Companies that are already profitable have more resources to invest in LGBTQ+ policies. Diversity is about being open to different viewpoints and not judging employees by their appearance. Similarly, it involves being as discerning of a report you agree with as one that you don't, and not judging a report by its claims. There is already a strong moral and ethical case for LGBTQ+ inclusion. It is simply the right thing to do. I had a superb LGBTQ+ entrepreneur as guest speaker in my class without any study that it would boost teaching ratings or student satisfaction. We do not need to muddy it with claims that you should do it to make more money, particularly when those claims are not backed up by rigorous evidence.

The investor demand for LGBTQ+ inclusion, as evidenced by studies and surveys, signals a paradigm shift in investment preferences. This shift is not just a fleeting trend (or so-called ‘woke capitalism') but rooted in solid financial reasoning. Companies with high LGBTQ+ transparency scores consistently demonstrate stronger financial performance, lower cost of capital, and higher credit ratings. This correlation underscores the economic value of embracing diversity and inclusion. Open For Business, the coalition of global companies working to advance LGBTQ+ rights, has published its "Investor Guide to LGBTQ+ Inclusion". The report looks at why LGBTQ+ inclusion matters to investors, and how it can be integrated within Environmental, Social, and Governance (ESG) strategies. A must read for anyone in the investor community. You can view their report here - https://lnkd.in/fRHKaRQ. #AustralianBoardDiversity #ALBEI #Leadership #Directors #BoardofDirectors #BoardDiversity #NonExecutiveDirectors #Boardroom #BoardDiversity #Governance #Inclusion #Diversity #DEI #Equity #DiversityandInclusion #LGBTQ #RepresentationMatters #VisibilityMatters

For ‘anyone’ in or interested in #dei Prof. Alex Edmans comments are precise and to the point, a must read! I particularly love his last paragraph: “There is already a strong moral and ethical case for LGBTQ+ inclusion. It is simply the right thing to do. I had a superb LGBTQ+ entrepreneur as guest speaker in my class without any study that it would boost teaching ratings or student satisfaction. We do not need to muddy it with claims that you should do it to make more money, particularly when those claims are not backed up by rigorous evidence.” Let’s not make it more complicated than it’s morally the right thing to do! #diversityequityinclusion #diversitymatters #diversityequityandinclusion #diversity #equity #inclusion #leadership #leadershipdevelopment #leadershipskills