More and more investors are holding companies accountable for reporting on and disclosing the diversity of people on their board, which could incentivize companies to do more in terms of their DEI efforts.
During a Fireside Chat with DiversityInc CEO Carolynn L. Johnson titled “The Link Between DEI and Financial Performance,” Jose Minaya, CEO of financial planning company Nuveen, said the SEC’s approval of the Nasdaq’s request to require board diversity disclosures for companies listed on its stock exchange will fuel transparency and accountability when it comes to practicing and reporting on DEI.
Minaya said some thought what Nasdaq did was bold, which he said is “interesting it’s even considered bold.” It simply requires companies to hold themselves accountable and be transparent, which in turn could possibly lead to companies better diversifying the people on their board.
What does transparency mean in terms of workforce analytics, Carolynn asked. What is Nuveen looking for in transparent reporting from the companies it works with?