RPIA SUSTAINABILITY REPORT 2022
OVERVIEW FIRM
30
INVESTMENT MANAGEMENT
Entertainment Content & Media March - October 2022
Social
In March 2022, our Investment Grade-focused strategies participated in new issues of a newly merged entity in the Entertainment Content & Media industry. While conducting ESG analysis on this issuer, we noted that the acquired entity in the merger had better Diversity, Equity & Inclusion (DEI) disclosures, such as workforce participation by ethnicity, gender, and seniority compared to the acquirer. As a result, our ESG analysis of the merged entity highlighted the issuer as a laggard in its sector in the context of these disclosures. As a part of our ongoing analysis, we noted that the merged entity had also been in the news recently due to allegations about the lack of diversity in their new leadership team post-merger.
Engagement Focus
In September 2022, we scheduled an engagement call with the issuer and with their investor relations team, corporate secretary, and treasurer to discuss the issue, learn more about their future plans with respect to DEI, and encourage them to improve their disclosures on DEI.
Outcome
We pointed to the fact that their DEI report only covered one of the entities of the merger and encouraged them to improve their disclosures on the corporate level. We learned that they have received good feedback on the quality of disclosures for that report (i.e., their workforce participation by ethnicity, gender, and seniority), and their upcoming DEI report at the corporate entity level will be based on a similar framework. Although there is no assigned timing for the release, RPIA will be informed as soon as the report is published.
Read the Full Engagement Report
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