Sustainable Finance Newsletter - Making the business case for boardroom diversity
By Ross Kerber
Sept 25 (Reuters) -You'll hear a lot of theory about corporate diversity efforts but if you want to know what's actually happening, San Francisco-based investment consultant Barry Lawson Williams always has an informed take.
So I was interested to hear about Williams' latest project, interviews with 100 Black directors, at a time when various corporate diversity efforts are under pressure.
You can read about his takeaways in this week's main column via the linkbelow. This newsletter also containslinks to stories about the end of a "blue hydrogen" export plan, a plan to restart the Three Mile Island nuclear power plant, and my (unrealistic but awesome) plan for a U.S. presidential debate.
As always I welcome news tips, comments, etc by connecting with me on LinkedIn. You can also reach out via ross.kerber@thomsonreuters.com
Making the business case for boardroom diversity
Some U.S. corporate diversity efforts are losing steam, including in boardrooms where fewer minorities are amongnew S&P 500 directors. .SPXAmong those troubled by the trend is investment consultant Barry Lawson Williams.
Williams staged a series of interviews with Black directors he plans to post soon on his website. A big takeaway, he told me, is that nearly all his subjects felt the case for diversity is best made on business grounds rather than on appeals to justice or equity.
"Sure it's a moral issue, but there's a business case for diversity. Diversity improves decision-making and performance," Williams said.
You can read more about my conservation with Williams by clicking here.
Company News
Norway's Equinor EQNR.OL has scrapped plans to export blue hydrogen to Germany because it is too expensive and there is insufficient demand, ending itseffort to build a hydrogen supply chain with Germany's RWE.RWEG.DE Blue hydrogen is produced mainly from natural gas, with carbon capture technology used to cut emissions.
Constellation Energy CEG.O and Microsoft MSFT.O plan to restart the Three Mile Island nuclear power plant, hoping they have scored a quick source of enough climate-friendly energy to power rapidly expanding data centers for artificial intelligence.
India is investigating the business practices of U.S. streaming giant Netflix's NFLX.O local operations, including allegations of visa violations and racial discrimination, according to a government email sent to a former executive.
On my radar
Political polarization is bad for U.S. fiscal health, according to a new report from ratings agency Moody's, with the next president facing "declining debt affordability" and partisan gridlock potentially limiting policy options. How about a presidential debate moderated by analysts from the top ratings agencies?
Fox News Media parentFox FOXA.O scored a win as the top U.S. securities regulator said it could avoid a shareholder vote seeking different labels on its opinion shows. Another proposal would have Fox stage a vote calling for an end to its dual share classes.
Software analytics platform Datamaran said it completed a $33 million financing round from Morgan Stanley Expansion Capital.MS.N Datamaran says regulations such as the EU's Corporate Sustainability Reporting Directive are driving demand.
Fewer new minority directors https://reut.rs/4dzmy3D
Reporting by Ross Kerber in Boston; Editing by David Gregorio
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