Pax World, a provider of socially responsible mutual funds, and 85 Broads, a global network of 25,000 women who promote women's issues worldwide, have established a strategic partnership to advance women and women's employment.
Members of 85 Broads are located in over 90 countries and work for thousands of for-profit companies and not-for-profit organizations worldwide. The Pax World and 85 Broads plan to work together to promote gender equality through investment practices; developing events and educational opportunities to connect, empower and inspire women; and other initiatives.
Pax World seeks to promote gender equality through its family of mutual funds, including the Pax World Global Women's Equality Fund, which focuses on investing in companies around the world that are leaders in advancing gender equality and women's empowerment in the workplace and beyond.
Pax World includes gender criteria in the sustainability analysis it applies to all its no-load mutual funds and also actively promotes gender equality and women's empowerment through an array of advocacy initiatives. 85 Broads was originally founded in 1997 as an exclusive network for current and former Goldman Sachs women who worked at 85 Broad Street.
During the 2010 proxy season, Pax World withheld votes from 74 board slates because those companies did not nominate any women directors. Feedback to its vote withholding and follow-up suggestions regarding gender diversity is getting a little stronger each year, says Joe Keefe, Pax World president and CEO.
So far, nearly 40 companies worldwide have agreed to support Pax World's gender diversity principles, which outline how to empower women in the workplace, market and community.