Endorsers of Women's Empowerment Principles

Pax World CEO Joe Keefe was among the first CEOs in the world to endorse the Women’s Empowerment Principles, a joint initiative of the United Nations Global Compact and UN Women.

The following endorsers of the Women’s Empowerment Principles are held in the Global Women’s Equality Fund:

  • Resona Holdings, Inc.  (1.3%*)
  • PepsiCo, Inc. (1.4%*)
  • Microsoft Corporation (1.2%*)
  • Shiseido Company Ltd. (1.1%*)
  • Westpac Banking Corp. (0.9%*)
  • OMV AG (0.8%**)

Below are additional companies we are pleased to hold in our funds that have also endorsed the Women’s Empowerment Principles.

  • KAO Corporation (1.3%**) 
  • Levi-Strauss & Co. (0.5%***)


Other Examples of Gender Leadership in the Global Women's Equality Fund

Deutsche Telekom AG

There are seven women on Deutsche Telekom's (1.8%*) 20-member supervisory board and two women among its seven senior executives. In 2010, Deutsche Telekom established a goal for women to comprise 30% of its senior and middle management positions by 2015.

To achieve this goal, Deutsche Telekom has introduced a number of programs throughout its talent pipeline. For example, the company seeks to ensure that women represent 30% of the participants in its various development programs for executives, and a group-wide policy has been introduced requiring at least 30% of applicants considered for top-management positions to be women. In 2010, the company launched group-wide gender collaboration training to prepare managers to lead increasingly diverse teams. The company reports that a year after the introduction of its gender diversity target, it has succeeded in recruiting large numbers of women, particularly for top management positions and key HR development programs. Between 2009 and 2012, the percentage of female executives worldwide at the company has increased from 19% to 24%.

Additionally, Deutsche Telekom offers various work-life balance programs to employees, including flextime and job-sharing arrangements, holds an annual diversity convention and has affinity groups for women.


The President and CEO of IBM (1.3%*) Virginia Rometty, is a woman. There are three women on the 13-member board of directors at IBM and four women on the company’s 15-member senior management team. More than 22% of IBM’s global executives are women.

IBM has a comprehensive diversity program, Diversity 3.0, along with many formal mentoring and leadership programs for women—including 40 global women’s councils—that support advancement. IBM's Women Inventor's Community, which formed in late 2006, now has more than 1,000 women worldwide, and was created to foster gender empowerment in the patent development and application process, where women were largely underrepresented at the company.

In 2011, IBM held a Global Diversity & Inclusion Summit, where leaders from around the world gathered to further develop its global diversity strategy. In addition, the company holds various diversity events globally.

Woolworths Limited

There are three women on Woolworths’ (0.6%*) 9-member board of directors, and there are two women on the company’s 10-member management board. Woolworths has adopted the new Australian Securities Exchange Corporate Governance guidelines for diversity. As part of this commitment, the company aims to have 33% representation of women at the board level and within its executive leadership group by 2015.

In 2013, women represented 53.3% of Woolworths’ overall workforce and 30.3% of executive leadership roles (up from 16.7% in 2004). 38% of new senior executive appointments during 2013 were women. Also i 2013, four leadership programs commenced. These programs currently have 39.2% female participation. As part of its annual remuneration review process, Woolworths also undertakes an analysis of pay levels by gender, identifies any differentials, and takes appropriate steps to address any differentials.

In order to facilitate women’s career development and remove barriers that may restrict their career progression, the company has created programs that prepare women to take on senior roles within the business, offers structured mentoring and networking opportunities, the provision of part-time and job-share roles, flexible reintegration after parental leave and support during this leave.

Royal Bank of Canada

There are five women on Royal Bank of Canada's (2.4%*) 18-member board of directors, and two women among its top seven senior executives. Royal Bank of Canada reports that 65% of its workforce was comprised of women in 2012, and 47% and 36% of its managerial positions and executive roles, respectively, were held by women. The company provides high potential women with extensive opportunities for networking, mentoring and professional development. The company’s Graduate Leadership Program, geared toward building a pipeline of leaders, has a goal of recruiting 50% women. In 2011, four of the seven program participants were women.  

In 2010, Royal Bank of Canada's Technology and Operations (T&O) group established a Diversity Leadership Council, comprised of 11 senior leaders, who act as visible role models for diversity and inclusion and support the implementation of strategies and action plans within T&O. One of the Council’s priorities is focused on increasing women in senior roles within the group.  

Royal Bank of Canada has a Diversity Leadership Council, chaired by its President & CEO, which was created to establish diversity strategies and goals and to have senior-level diversity champions in place in North America, the Caribbean and the United Kingdom. Royal Bank of Canada facilitates RBC Diversity Dialogues, Business Excellence through Diversity, and Living Well forums for all employees.  The company also has a newly formed networking group, RWomen, which assists women in the Capital Markets business in networking more effectively.

*Pax World Global Women's Equality Fund holding as of 12/31/13. Holdings are subject to change.

**Pax World International Fund holding as of 12/31/13. Holdings are subject to change.

*** Pax World High Yield Bond Fund holding as of 12/31/13. Holdings are subject to change.

This information is not a recommendation to buy or sell and security.