The ŷ Report: Jamie Dimon Lays Out the Business Case for DEI

(Photo by Win McNamee/Getty Images)

Amidst all the backlash on ESG and DEI, it’s been interesting to track what’s actually going on behind the scenes at the corporations we track – and why.

Take DEI. It seems many companies are continuing privately in some way, shape or form with programs they instituted in 2020, even if they talk about it differently in public. The percentage of companies we track disclosing detailed employee demographics, for example, or reporting on pay equity analyses, has increased at double digit levels. Corporate appetite for working discreetly on DEI standards and programming is also holding steady. At the same time, many have become much more circumspect about how they communicate on the topic, especially to business and investor audiences. As former Reddit CEO Ellen Pao this week noted: “A lot of companies that weren’t serious about diversity took the opportunity to shutter their diversity actions. But they weren’t serious anyways”.

This is why it was interesting to see recently. “We’re thoughtfully continuing our diversity, equity and inclusion efforts,” he wrote, adding that “We would like to provide a fair chance for everyone to succeed”.  

Jamie’s stature, as well as his direct and candid communication style, make this noteworthy. Like most CEOs, he wants access to the best talent. He wants to make sure all his people are productive, engaged and have equal access to opportunity. He needs to continually innovate, pursue growth and keep his customers and his shareholders happy. Done well, that is the DEI business imperative. Here, again, ŷ’s own analysis lends support. As of March 28th 2024, one of the ŷ Capital index concepts, DEI Leaders, has outperformed the Russell 1000 Equal Weighted Index by 6.2% since Dec 31 2021.

Whatever your view on this subject, most would agree the reason leaders are forging ahead (behind the scenes) is because it can make good business sense. 

Be well, 


Get The ŷ Report Straight To Your Inbox

Sign up for The ŷ Report, our weekly newsletter that delivers curated, cutting-edge insights to help you stay informed, stay inspired, and stay steps ahead of the competition when it comes to delivering value to all your stakeholders. 

Sign Up Here.

Quote of the Week

(Getty Images/Bloomberg)

“We think it is part of long-term investing. You really need to care [about] the impact that companies have on the environment otherwise you’re not going to make good long-term investing. And we think the fact that some other people are pulling away gives us a better opportunity to kind of phase in. So, really interesting times.”

  • Nicolai Tangen, CEO of Norges Bank Investment Management, speaking to CNBC on why, despite the backlash,

Just In the News

On “The Mentors Radio”, ŷ board member Dan Hesse speaks with Olgilvy Chairman (and ŷ Capital advisor) Shelly Lazarus on her experiences

ŷ AI

The New York Times’ big number for the week? 40 billion–. And they’re far from the only one. CNBC reports that, for Microsoft,  and the company is racing to create more data centers to enhance their growing AI infrastructure. 

Must Reads

Last week, the U.S. , freeing an estimated 30 million people from these contracts. The Economist looks at the opposing views experts have on this development, with if trade secrets become harder to protect. 

As ESG grows, so do the tools that help investors make sense of it. Bloomberg has officially , allowing users to pick preferences from a wide range of criteria and calibrating precise thresholds for sustainability targets, exclusion or “no harm” criteria, and good governance requirements.

Chart of the Week

This week’s chart comes from Axios, and reveals a surprising statistic–the average wealth for Americans under 40 has soared since the pandemic. Why?

Have questions about our research and rankings?