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As we sit at our desks and analyse companies, we recognise we do not have all the answers on this issue. Indeed, we approach this issue with so much to learn, especially as it relates to the experiences of so many. These long-standing issues stem from a centuries-old and complex cultural and historical context. In some cases our team members have also experienced the unjust and unfair effects of racism, both in and outside the workplace. But this can only be an excuse for so long.
As investors, we have always favoured companies that understand the need to, and live by the principles of, operating in the right way. While this may sound vague, we know what it looks like. It is as simple as showing an open mind to diversity, through to more complicated matters of respecting all communities and supporting their advancement, not abusing minorities or human rights, as well as operating within an explicit or implicit licence to operate.
On top of that, it is about looking for companies that understand the links between poverty, disadvantage, accessibility to services, basic human rights and climate change. We have long sought out and invested in companies which build necessary goods and services, such as providing clean reliable water, sanitation, access to medicines and healthcare, and essentials, such as soap and personal care goods. Added to this in recent years are internet access, mobile telephony, clean electricity, basic banking services and micro insurance. Our hope is that our clients’ capital can support companies which sustain and advance the livelihoods of those most in need of these services and who face the greatest challenges, regardless of ethnicity.
Although this is an integral part of our investment philosophy, there is much more we can and should be doing to play our part in addressing racism and racial diversity.
We plan to:
Unequivocally it is time for change, and for us as an investment team, there is much we can and will be doing to play our part in this change.
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