Below are companies in the Pax Large Cap Fund (PXLIX) that we believe are taking advantage of sustainability‑related opportunities or taking appropriate steps to address key ESG issues.

We are encouraged by the progress of these companies as they make their operations more sustainable, but we recognize that more can be done. That’s why we engage with companies on sustainability issues and ask for information about policies, programs and performance data.

Visa Inc (V)

Visa Inc. operates a retail electronic payments network and manages global financial services. The company also offers global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.

  • Visa is well-positioned to benefit from increased demand for electronic payment systems as part of the digital transformation, which creates opportunities for greater economic participation and more efficient commerce.
  • Visa has taken proactive steps to enhance its network’s security infrastructure, protect customer data privacy and improve fraud detection mechanisms. The company provides regular training on privacy and data protection to all employees and has a dedicated C‑suite level executive, the chief privacy officer, overseeing data protection.
  • The company provides extensive transparency around its talent management and diversity and inclusion efforts. Visa discloses data about workforce demographics and pay equity annually and has in place specific development programs for women leaders as well as a returnship program, “Ready to Return.”

Accenture PLC (ACN)

Accenture PLC provides management and technology consulting services and solutions. The company delivers a range of specialized capabilities and solutions to clients across all industries on a worldwide basis. Accenture operates a network of businesses that provide consulting, technology, outsourcing and alliances.

  • Accenture is well-positioned to benefit from increased demand for cloud-related services and cybersecurity transformation, both of which are critical to the digital transformation.
  • In September 2019, Accenture committed to using 100 percent renewable energy across its global operations by 2023. The company has also set a science-based target, approved by the Science-Based Targets Initiative, to reduce its greenhouse gas emissions 11 percent by 2025. To date, Accenture is the largest professional services company to make this type of commitment.
  • Accenture has recognized that diversity is a critical driver of innovation and was an early signatory to the UN Women’s Empowerment Principles. The company has set diversity targets that include achieving a gender balanced workforce by 2025 and increasing the percentage of women managing directors to 25 percent by 2020.

Eaton Corp PLC (ETN)

Eaton Corporation PLC manufactures engineered products for the industrial, vehicle, construction, commercial and aerospace markets.

  • Eaton provides energy-efficient solutions that help its customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably.
  • Eaton has set science-based targets to reduce greenhouse gas (GHG) emissions and supports collective actions to reduce GHG emissions to address the risks of climate change.
  • The company has implemented programs, including Design for Environment (DfE) and Lifecycle Assessment (LCA), to gain an in-depth understanding of the environmental impacts of its products and their production processes.

Pax Large Cap Fund Top 10 Holdings

(As of 02/29/2020)
Holdings are subject to change.

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