Diversity 'greenwash' leads to new corporate culture standard from City Hive

Think tank and advocacy group City Hive has launched ACT, a standard that looks to create cultural change and drive diversity and inclusion (D&I) in investment firms.

ACT, standing for ‘Action, Challenge, and Transparency', has been developed as a tool to diminish ‘greenwashing', or reducing D&I to a tickbox exercise without resolving any more deep rooted issues, through going beyond product level to assess an entire company. ACT is also designed to become a core element of the due diligence process, measuring culture and diversity as standalone pillars of the a company's environmental, social and governance (ESG) activity. FCA publishes final rules on diversity disclosures for listed companies Founding signatories have a combined AUM of $6.5trn an...