Pax Small Cap Fund Company Examples

Ciena Corporation (CIEN)

Ciena Corporation develops and markets communications network platforms and software and offers professional services.

• The company is a key player in improving datacenter bandwidth, providing optical infrastructure to meet the rising demands of video, data and voice traffic.

• The company reports that power and physical footprint reduction are key considerations when developing products, and its expertise in multilayer switching, mesh capacity sharing, and high-line-rate transmission support the design of next-generation and modernized networks that reduce the impact on the environment.

• The company recently launched a new dedicated function focused on diversity, inclusion and belonging initiatives. Internal networking and resource groups for employees include Women@Ciena, Black & African Heritage, and Pride@Ciena LGBT+. Women comprise 30% of Ciena’s board of directors and 20% of the company’s executive management team.

Belden Inc. (BDC)

Belden designs and manufactures cable, connectivity and networking products for the transmission of data, sound and video signals.

• The company is well-positioned to capitalize on opportunities related to the transition to a sustainable global economy through its cable, connectivity and networking products for the transmission of data, sound and video signals. Applications for Belden’s products and solutions include industrial automation, broadband and 5G, smart buildings and cybersecurity.

• Belden proactively has taken steps to formalize its ESG strategy. These steps include designating board oversight of sustainability issues; disclosing key performance data, including that related to greenhouse gas (GHG) emissions; and making a public commitment to set environmental performance targets.

• There is strong female representation on the board of directors (30%), and in 2020, Belden appointed a Director of Inclusive Culture to drive progress on diversity at the company.

Omnicell Inc. (OMCL)

Omnicell, Inc. provides an integrated suite of clinical infrastructure and workflow automation solutions for healthcare facilities. The company offers solutions that include pharmacy and supply systems, clinical reference tools, an internet-based procurement application, and decision support.

• There are substantial efficiency gains and potential cost reductions to be made from digitizing healthcare through technological innovation. Omnicell’s strategy is to provide improved patient safety, optimize efficiency, increase compliance adherence, and reduce costs through its autonomous pharmacy offerings.

• Omnicell has recently formalized its sustainability strategy by creating a dedicated corporate responsibility team, establishing board oversight of ESG issues and publishing its first sustainability report. The report is comprehensive and covers material issues for the company, including data privacy and security, human capital management and environmental issues.

• Equity, diversity and inclusion (E,D&I) has been identified as a key focus of the company’s sustainability strategy. Omnicell has a significant level of female representation among its senior leadership team (41%), and it plans to set E,D&I goals in 2021 to drive greater female and diverse representation within technical roles.

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