DEIB Investing

Investing in Diversity, Equity, Inclusion & Belonging: 2023 Report from Veris Wealth Partners

Veris Wealth Partners has published a new report on investing in diversity, equity, inclusion, and belonging.

We believe that our economy and society have much to gain by investing in communities that have historically faced exclusion.

In their 2020 report Closing The Racial Inequality Gaps, Citigroup reported that not addressing racial gaps between Black and Whites has cost the US economy up to $16 trillion over the past 20 years and closing the gaps would add $5 trillion to US GDP over five years.

It is our firm’s view that investors have a powerful opportunity to help create more equitable systems in the United States through policy advocacy and changing how we allocate investments, taking into account diversity, equity, inclusion, and belonging (DEIB).

One of the main tenets of Veris’ Investment Philosophy is that investors can have positive social and environmental impact across asset classes and strategies. We take a multi-faceted, intersectional approach to create wealth in under-resourced communities.

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DEIB Report Highlights

The report begins with a summary of the historical context that gave rise to the racial wealth gap and specific policies that inhibited equitable access to home ownership and credit for Black Americans. Shares examples of persistent disparities, in wealth and outcomes, between Black and White Americans.

Shows why we believe that unequal access to credit and home ownership inequality continue to be the greatest contributors to disparities in wealth building in Black communities.
Highlights specific investment vehicles that we believe are enabling capital to flow to solutions that address inequality and wealth creation in historically marginalized communities.
Illustrates the role that we believe the financial services industry has played in perpetuating inequality.
Shares our firm’s approach to integrating racial and gender equity into our investment process.
Presents Veris’ equity, diversity and inclusion (EDI) due diligence framework that seeks to identify fund managers that are diverse and inclusive at all levels of the organization, have an EDI lens in their investment process, are focused on intentional investments in under-resourced communities, and are working to dismantle obstacles to racial and gender equity through their policies, practices and investments.
Shares case studies highlighting three Black women led funds that are focused on communities of color in both the public and private markets.