Women Stakeholders, DAPL and Socially Responsible Investing
by Rebecca Adamson
The McKinsey Global Institute's report, The Power of Parity: How Advancing Women's Equality Can Add $12 Trillion to Global Growth, concluded that, "Gender inequality is not only a pressing moral and social issue but also a critical economic challenge. If women … do not achieve their full economic potential, the global economy will suffer."
The report identified three elements that are essential for achieving the full potential of gender parity: gender equality in society, economic development and a shift in attitudes. According to the report, 95 percent of company CEOs are still male and of the 22,000 global firms that were reviewed, 60 percent failed to have any women on their boards.
Facing this disparity head on the Intentional Endowments Network (IEN) held the first webinar on Gender Lens Investing: The Business Case, Opportunities and Action. Gender Lens Investing is defined as "the integration of gender into investment analysis" and it makes a strong business case for more female CEOs. Panelists, Kathleen McQuiggan at Pax World and Julianne Zimmerman at Reinventure Capital, shared research on the business case for investing in women. The conclusion was that the case for gender investing has never been stronger and that companies where women are better represented in leadership simply perform better.
At the same time, both the IEN webinar and McKinsey report point to evidence of persistent misconceptions about women founders and leaders, along with significant discriminations and market inefficiencies connected to gender and race. Over the past six years, researchers and experts in the tech industry have begun to consider the effects of this gender bias.
Ninety percent of tech employees are men and at the senior levels men account for 96 percent. Of the women entering the tech industry, 56 percent leave citing that they were pushed out by sexism and of the 6,517 companies receiving venture funding from 2011 to 2013, only 2.7 percent had women for CEOs.
As such, gender lens investing is crucial for breaking through the glass ceiling in these companies, but it's not just within the rank and file of the tech industry that women face discrimination. As McKinsey points out, gender parity requires a shift in attitudes and here again the tech industry offers no better place to see cultural attitudes towards women than on the Internet.
Across websites and social media, gender discrimination exists along a spectrum of illicit sexual surveillance, creep shots extortion, doxxing, stalking, malicious impersonation, threats and rape videos. Misogyny on Twitter, a report by Demos found that over a six-week period more than 6 million instances of the word "slut" or "whore" were used in English on Twitter. Of these tweets, 20 percent were deemed to be threatening.
Originally filed under "controversial humor," the social media companies recognize such postings can be overt efforts to silence women, but so far, the sanctity of free speech is taking precedence over freedom for women to engage in online communities. At the same time, "When it comes to copyright and intellectual property interests, companies are highly responsive. But violence against women frequently gets a lukewarm response until it becomes an issue of bad press," stated Catherine Buni and Soraya Chemaly in 2014.
At the annual SRI Conference on Sustainable, Responsible, Impact Investing last November, a panel was held for the very first time on The Truth About Violence Against Women and Gender Inequality. Jamia Wilson, executive director of Women, Action and the Media, recounted how a group of women were able to elevate the online violence against women to "an issue of bad press." Advertisements for Dove, iTunes, Finn Air and others were appearing on live pages with names like "I kill bitches like you," "I Love the Rape Van" and many others with worse titles.
Thus Women, Action and the Media and other feminists launched a campaign directed at the advertisers, asking, "Were these values a reflection of the company's values?" The advertisers responded immediately and the social media companies followed. Pat Zerega, senior director of shareholder advocacy at Mercy Investments, shared how teaming with feminist stakeholders led to using shareholder advocacy as the means for increasing corporate accountability and awareness of extractives, trucking, hotels and other industries in the forefront of violence against women. Check out Mercy Investments' groundbreaking effort: Truckers Against Trafficking.
Perhaps the extractive industries might not set out to perpetuate violence against women, but it certainly is a widespread by-product of how they do business. Take the tragic scene of conflict, environmental destruction and violence against women that is playing out under a national media spotlight at the Dakota Access Pipeline (DAPL) site in North Dakota. The Bakken region of North Dakota started experiencing its oil boom back 2010. The rapid oil development brought an influx of cash and thousands of oil workers living in "man camps" with time and money on their hands.
The rates for murders, aggravated assaults and robberies have tripled and rates for sex crimes, forcible rape, prostitution and sex trafficking have increased by 20.2 percent, according to Kathleen Finn, scholar in residence at the American Indian Law Clinic University of Colorado. The response by the state of North Dakota to protect the women and children from the escalating oil-induced violence has been to allocate $100,000 over a five-year period for the victims. The response by the state of North Dakota to the company building DAPL, Energy Transfer Partners, has been to allocate more than $23 million over a five-month period for the law enforcement, National Guard and security forces to protect company equipment.
The fight against DAPL has implications beyond the Standing Rock Sioux Tribe. It is a fight for everyone who wants clean air, clean water and gender equality. As governments increasingly prove incapable or unwilling to protect these things, citizens are turning to the market and the market is responding. Thanks to DAPL, social responsibility is on every ESG (environmental, social and governance) investor's radar.
As of this writing, a coalition of more than 150 investors representing more than $1.3 trillion in assets under management called on banks financing DAPL to address or support the Standing Rock Sioux Tribe's request to reroute the pipeline and avoid their treaty territory. Lead investor Boston Common Asset Management was joined by Storebrand Asset Management and Calvert Research and Management along with CalPERS and the comptroller of the city of New York in a statement about reputational and potential financial risks for banks with ties to DAPL. The investors are concerned banks may be implicated in conflict and controversies related to the pipeline and could face long-term brand and reputational damage resulting from consumer boycotts and possible legal liability.
Within the investment community, ESG investing is mainstreaming at an unprecedented rate. Considerable progress quantifying environmental risks and building them into the business model has been made. For example Carbon Tracker provides "financial and regulatory analysis to ensure that the risk premium associated with fossil fuels is correctly priced." The emergence of unburnable carbon, stranded assets, wasted capital and fossil fuel risk premium has equipped investors with a wealth of tools to integrate environment into their decisions. Likewise, governance is also making progress. evidenced by the creation of many funds and indices designed around CEO pay, board diversity, etc.
Social, on the other hand, has not made as much progress. While investors are able to easily assess companies based on women represented on boards, equal pay, etc., there are few if any tools for investors to gauge how companies are addressing violence against women in their operations and supply chains. Complicit in the lack of progress is the fact that the Securities and Exchange Commission does not require corporations to report on community relations or human rights, due to their perceived lack of material relevance, so they fail to disclose what could be deemed material social risks and social costs and corporate accountability to the victims.
But the times, they are changing. ESG investing is mainstreaming at an accelerated rate. To stay true to our original purpose—creating a better world through the market—we must create the tools, methodologies and social metrics to achieve relevance with the female half of our stakeholders.
Rebecca Adamson, an Indigenous economist, is founder and president of First Peoples Worldwide.
Reposted with permission from our media associate GreenMoney.
EcoWatch Daily Newsletter
By Farah Aqel
Overthinkers are people who are buried in their own obsessive thoughts. Imagine being in a large maze where each turn leads into an even deeper and knottier tangle of catastrophic, distressing events — that is what it feels like to them when they think about the issues that confront them.
Ruminating<p>According to the late Susan Nolen-Hoeksema, a professor of psychology at Yale University, <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5796420/" target="_blank">ruminating</a> involves replaying a problem over and over in your mind. We ruminate by obsessing over our thoughts and thinking repetitively about various aspects of a past situation.</p><p>It usually involves regret, self-loathing and self-blaming. Rumination is associated with the development of depression, anxiety and eating disorders. </p><p>People prone to such patterns of thought may, for example, overanalyze every single detail of a relationship that breaks up. They often blame themselves for what has happened and are overcome with regret, with typical thoughts being: </p><p>- I should have been more patient and more supportive. </p><p>- I have lost the most perfect partner ever. </p><p>- No one will love me again.</p>
Worrying<p>Worrying is wanting to predict the future. It involves negative thoughts about things that might and might not happen.</p><p>- They'll not like me in the interview; they'll not give me the job. </p><p>- I haven't heard back from other employers. How long will I be unemployed?</p><p>These thoughts are energy-draining and distressing. They could happen to anyone under stress. But when you reach the point where your thoughts and worrying are preventing you from doing what you want to do — from living your life to the fullest — then you should take action.</p>
Catch Yourself Overthinking<p>Reuben Berger, a psychotherapist at the university hospital in the western German city of Bonn, recommends several practical steps that you could employ in your daily routine when you catch yourself worrying or ruminating.</p><p>One effective remedy, says Berger, is the <a href="https://www.uofmhealth.org/health-library/uf9938" target="_blank">thought-stopping technique.</a></p><p>"When the negative thoughts come or ruminations start, you say to yourself: 'Stop!,'" he says, adding that it is more effective when you actually say the word out loud.</p><p>He even recommends having a rubber band around your wrist to ping against yourself while saying the word. Adding a visual component by imagining a stop sign also makes the technique more powerful, he says.</p><p>The main idea here is conditioning yourself to stop the loop of worrying (making future predictions) or rumination (obsessing over past events).</p><p>Berger says the technique could take up to two weeks to take effect and that it needs to be practiced every day. "Consistency is very important," he says. </p>
Thoughts Are Just Thoughts<p>Another way of dealing with negative thoughts often used in modern therapy is realizing that thoughts aren't facts, says Berger.</p><p>He says it is important when we think something to ask: Is that real? Did that really happen? What is the worst thing that could happen?</p><p>Flight anxiety is one example where untrue thoughts are accepted as facts. Although air travel is the safest way to get around, people suffering from fear of flying accept their thoughts and fears as reality, then act upon them by refusing to fly.</p>
Mindfulness<p>Berger also recommends the use of mindfulness techniques, in which attention is paid to experiences in the moment without judging them, as a way of reducing worrying.</p><p>"Mindfulness helps you to distance yourself from your thoughts and to be more present in the moment," he says.</p><p><a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3432145/#R2" target="_blank">Several studies</a> have shown that mindfulness has a positive impact on reducing stress-related behaviors such as rumination and worrying, as focusing on the moment makes anxiety about other problems impossible.</p><p>Mindfulness can be practiced during routine activities by paying attention to your body and your surroundings. For instance, when you leave for work in the morning, you can focus on sensing the breeze, listen attentively to birds, feel the gravel under your feet and monitor your breath. </p>
Trick Your Brain Into Happiness<p>People plagued by obsessive thoughts do not always choose healthy ways like mindfulness to distract from them, however.</p><p> Dr. Edward Selby, a psychologist at Florida state university, has shown in a study that people try to avoid rumination by engaging in a range of uncontrolled behaviors, such as binge eating and substance abuse.</p><p>But he says that a much better way to overcome such distress is by distraction and shifting attention away from problems that are obsessing us.</p><p>There are many activities that can be used to distract from rumination, he says, and people should choose the one that works best for them. Here are some examples:</p><p>- Listen to music</p><p>- Read a book</p><p>- Take a hot shower</p><p>- Dance or exercise </p><p>- Talk to a friend (not about the problem)</p><p>- Watch a movie</p><p>- Mindfulness meditation</p>
Changing the Perception of Events<p>The way people perceive a situation largely influences their emotions and behavior. It is not the situation itself that determines how they feel, but rather the way they interpret it.</p><p>Reframing negative thoughts can lead to positive emotions and, subsequently, healthier behaviors — including a reduction in damaging overthinking and worrying.</p><p>Cognitive behavioral therapy (CBT) is currently a gold standard in psychotherapy. CBT aims to change the way people think and act. It largely involves challenging unhelpful beliefs or attitudes such as overgeneralization — thinking "I always fail at public speaking" when you have had one bad experience in front of an audience, for example — or "catastrophization," i.e., imagining the worst possible outcome to a situation. </p><p>A psychotherapist can teach people how to implement such thought-changing techniques into their lives. Techniques vary depending on their issues and goals.</p>
Solutions Are at Hand<p>Try to find ways of avoiding worrying, rumination and overthinking that make you feel most comfortable.</p><p>Incorporating any routine in your life when you're stressed isn't an easy task, but you can do it! If you feel overwhelmed, you can always seek professional help. </p><p><em>If you are suffering from serious emotional strain or suicidal thoughts, do not hesitate to seek professional help. You can find information on where to find such help, no matter where you live in the world, <a href="https://www.befrienders.org/" target="_blank">at this website.</a></em></p>
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By Michael Baker, Amanda Kvalsvig and Nick Wilson
On Sunday, New Zealand marked 100 days without community transmission of COVID-19.
Deaths From COVID-19 Per Million Population<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzU0ODIyOS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MjkzMDc1OX0.7Yp1h1hokihlMJUurDukGmq-Y8NJB0V-07O1ukEjGt0/img.png?width=980" id="0fe6a" class="rm-shortcode" data-rm-shortcode-id="6bce85a610aee18e2f4f1c1caca7b8a0" data-rm-shortcode-name="rebelmouse-image" />
<div id="77fff" class="rm-shortcode" data-rm-shortcode-id="ce7b34f8986d3d36bee5d4d83ac0822c"><blockquote class="twitter-tweet twitter-custom-tweet" data-twitter-tweet-id="1292270210238447616" data-partner="rebelmouse"><div style="margin:1em 0">COVID-19 Update There are no new cases of COVID-19 to report in New Zealand today. It has been 100 days since t… https://t.co/Cz55ixGZUz</div> — Unite against COVID-19 (@Unite against COVID-19)<a href="https://twitter.com/covid19nz/statuses/1292270210238447616">1596936201.0</a></blockquote></div>
Getting Through the Pandemic<p>We have gained a much better understanding of COVID-19 over the past eight months. Without effective control measures, it is likely to continue to spread globally for many months to years, ultimately infecting billions and killing millions. The proportion of infected people who die appears to be <a href="https://www.medrxiv.org/content/10.1101/2020.05.03.20089854v4" target="_blank">slightly below 1%</a>.</p><p>This infection also causes serious <a href="https://www.bmj.com/content/370/bmj.m2815" target="_blank">long-term consequences</a> for some survivors. The largest uncertainties involve <a href="https://www.nature.com/articles/d41586-020-02278-5" target="_blank">immunity to this virus</a>, whether it can develop from exposure to infection or vaccines, and if it is long-lasting. The potential for treatment with antivirals and other therapeutics is also still uncertain.</p><p>This knowledge reinforces the huge benefits of sustaining elimination. We know that if New Zealand were to experience widespread COVID-19 transmission, the <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3310086/" target="_blank">impact on Māori and Pasifika populations</a> could be catastrophic.</p><p>We have previously described critical measures to get us through this period, including the use of fabric face masks, improving contact tracing with suitable digital tools, applying a science-based approach to border management, and the need for a dedicated national public health agency.</p><p>Maintaining elimination depends on adopting a highly strategic approach to risk management. This approach involves choosing an optimal mix of interventions and using resources in the most efficient way to keep the risk of COVID-19 outbreaks at a consistently low level. Several measures can contribute to this goal over the next few months, while also allowing incremental increases in international travel:</p><ul><li>resurgence planning for a border-control failure and outbreaks of various sizes, with state-of-the-art contact tracing and an upgraded alert level system</li><li>ensuring all New Zealanders own a <a href="https://www.nzma.org.nz/journal-articles/mass-masking-an-alternative-to-a-second-lockdown-in-aotearoa" target="_blank">re-useable fabric face mask</a> with their <a href="https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12354409" target="_blank">use built into the alert level system</a></li><li>conducting exercises and simulations to test outbreak management procedures, possibly including "mass masking days" to engage the public in the response</li><li>carefully exploring processes to allow <a href="https://blogs.otago.ac.nz/pubhealthexpert/2020/06/16/preventing-outbreaks-of-covid-19-in-nz-associated-with-air-travel-from-australia-new-modelling-study-of-alternatives-to-quarantine/" target="_blank">quarantine-free travel</a> between jurisdictions free of COVID-19, notably various Pacific Islands, Tasmania and Taiwan (which may require digital tracking of arriving travellers for the first few weeks)</li><li>planning for carefully managed inbound travel by key long-term visitor groups such as tertiary students who would generally still need managed quarantine.</li></ul>
Building Back Better<p>New Zealand cannot change the reality of the global COVID-19 pandemic. But it can leverage possible benefits.</p><p>We should conduct an <a href="https://blogs.otago.ac.nz/pubhealthexpert/2020/06/11/five-key-reasons-why-nz-should-have-an-official-inquiry-into-the-response-to-the-covid-19-pandemic/" target="_blank">official inquiry into the COVID-19 response</a> so we learn everything we possibly can to improve our response capacity for future events.</p><p>We also need to establish a specialized national public health agency to <a href="https://blogs.otago.ac.nz/pubhealthexpert/2017/12/20/the-havelock-north-drinking-water-inquiry-a-wake-up-call-to-rebuild-public-health-in-new-zealand/" target="_blank">manage serious threats to public health</a> and provide critical mass to <a href="https://blogs.otago.ac.nz/pubhealthexpert/2020/02/05/a-preventable-measles-epidemic-lessons-for-reforming-public-health-in-nz/" target="_blank">advance public health generally</a>. Such an agency appears to have been a key factor in the success of Taiwan, which avoided a costly lockdown entirely.</p><p>Business as usual should not be an option for the recovery phase. A recent <a href="https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12353555" target="_blank">Massey University survey</a> suggests seven out of ten New Zealanders support a green recovery approach.</p><p>New Zealand's elimination of COVID-19 has drawn attention worldwide, with a description just <a href="https://www.nejm.org/doi/full/10.1056/NEJMc2025203" target="_blank">published</a> in the New England Journal of Medicine. We support a rejuvenated World Health Organization that can provide improved global leadership for pandemic prevention and control, including greater use of an elimination approach to combat COVID-19.</p>
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By Shawna Foo
Anyone who's tending a garden right now knows what extreme heat can do to plants. Heat is also a concern for an important form of underwater gardening: growing corals and "outplanting," or transplanting them to restore damaged reefs.
Coral Gardening<p>Coral reefs <a href="https://www.noaa.gov/education/resource-collections/marine-life/coral-reef-ecosystems" target="_blank">support over 25% of marine life</a> by providing food, shelter and a place for fish and other organisms to reproduce and raise young. Today, <a href="https://www.climate.gov/news-features/understanding-climate/climate-change-ocean-heat-content" target="_blank">ocean warming driven by climate change</a> is stressing reefs worldwide.</p><p>Rising ocean temperatures cause <a href="https://oceanservice.noaa.gov/facts/coralreef-climate.html#:%7E:text=Climate%20change%20leads%20to%3A,to%20the%20smothering%20of%20coral." target="_blank">bleaching events</a> – episodes in which corals expel the algae that live inside them and provide the corals with most of their food, as well as their vibrant colors. When corals lose their algae, they become less resistant to stressors such as disease and eventually may die.</p><p>Hundreds of organizations worldwide are working to restore damaged coral reefs by growing thousands of small coral fragments in nurseries, which may be onshore in laboratories or in the ocean near degraded reefs. Then scuba divers physically plant them at restoration sites.</p>
Sea surface temperatures on Aug. 3, 2020, measured from satellites. Warning = possible bleaching; Alert Level 1 = significant bleaching likely; Alert Level 2 = severe bleaching and significant mortality likely. NOAA Coral Reef Watch