The latest developments in the ESG space.

This autumn, The Diversity Project will be launching the Diversity Project Europe, which will pave the way for a more inclusive asset management industry across the continent.

The cross-border initiative has been spearheaded by Ric van Weelden, in partnership with eight founding member firms: Aegon Asset Management, AXA Investment Managers, Franklin Templeton, HSBC Global Asset Management, Nordea Asset Management, Pictet Asset Management, Quoniam Asset Management and T Rowe Price.

The firms believe that there is a huge opportunity for creating an industry that reflects both society at large, and their clients more positively. Although data is sparse, the asset management industry is behind other professional services sectors in terms of gender balance and the number of those from ethnic minorities in decision-making roles, the group said in a statement.

Building on the success of the Diversity Project in the UK, the DPE will focus initially on Europe’s key asset management markets and three themes: gender equality, social mobility and inclusive culture. In order to do this, the DPE will be setting up workstreams, using voluntary collaboration and knowledge sharing to bring about change. They will also commission research to assess diversity and inclusion in the European asset management industry. 

“It’s wonderful that the Diversity Project Europe is launching. Many of the issues holding back progress around diversity, equity and inclusion in the asset management industry are global in nature and we’re going to make much more progress working together. I’m looking forward to working with colleagues at the DPE to accelerate change and future-proof the industry,” Baroness Helena Morrissey, chair of the Diversity Project UK, said: