TLDR:
- Lack of representation of LGBTQ+ individuals in investing is a systemic risk that needs to be addressed.
- White House meeting focused on policies to increase funding for LGBTQ+ initiatives and improve representation.
The article discusses the systemic risk posed by anti-LGBTQ+ sentiment in investing. The lack of representation of LGBTQ+ individuals in the investment space is highlighted as a major concern, with only 0.6% of Fortune 500 corporate board members identifying as LGBTQ+. The White House recently hosted a discussion on capital allocation to LGBTQ+ led and focused funds and startups, emphasizing the need for policies to increase funding for data collection on LGBTQ+ representation and increase the number of accredited LGBTQ+ investors.
The article underscores the discrimination and demonization faced by the LGBTQ+ community, including the introduction of a record number of anti-LGBTQ+ bills at the state level. As a result, over half of LGBTQ+ people in the U.S. live in areas where they can be legally denied services. These discriminatory practices have significant economic and financial implications, leading to income disparities, workplace discrimination, lack of corporate leadership, and other systemic issues.
The need for system-level solutions, such as creating a subcommittee within the SEC to focus on the needs of LGBTQ+ investors, is emphasized in the article. By engaging in public policy debates and increasing transparency around diversity within firms, investors can mitigate the risks of LGBTQ+ exclusion in the market. The article urges investors to consider the economic importance of LGBTQ+ issues and take proactive steps to create a more inclusive economy.
