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Trillium’s Statement on Signing of “Religious Liberty” Executive Order

 

 

May 4, 2017 // Boston, MA – Today, the Trump Administration issued an executive order on so-called religious liberty titled “Promoting Free Speech and Religious Liberty”.  The executive order suggests that the Administration may be considering allowing individuals and organizations greater freedom to discriminate against the LGBT community, resulting in economic consequences.  In response to this morning’s announcement, Matthew Patsky, CEO of Trillium Asset Management made the following comments:

“As investors, we know that discrimination is bad for business.  It casts a pall over our communities that inhibits innovation, slows or even halts growth, and makes it extremely difficult for companies to attract and keep top talent.  Corporate leaders and entrepreneurs understand that protecting LGBT rights in the workplace is good for business and creates a competitive workforce that is fundamental to a strong and resilient economy.  A 2016 analysis by Credit Suisse found that 270 companies which provided LGBT-inclusive work environments outperformed global stock markets by 3% annually.  Inclusivity is critical to corporate success.[1]

Trillium remains committed to supporting public and corporate policies that protect LGBT people from discrimination.  We will continue to press portfolio companies to include LGBT workers in their non-discrimination policies.  Through 35 years of shareholder engagement, Trillium has helped ensure that the companies in which we invest provide an inclusive workplace for thousands of LGBTQ employees and their co-workers.  At the state level, we recently lead a group of $11 trillion in investor assets in opposing the proposed Texas bathroom bill.  And as a proud partner of Freedom for All Americans and Out Leadership we join with business across the country in support of LGBT equality.”

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For more information: Caroline White, Communications Manager, cwhite@trilliuminvest.com

[1] “The business case against the next bathroom bill”, CNN. Retrieved from http://edition.cnn.com/2017/03/07/opinions/discrimination-bad-for-business-stringer-patsky-opinion/index.html

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