T-Mobile (TMUS)

T-Mobile US, Inc. is a national wireless carrier in the United States. The company offers consumer, business and prepaid wireless connectivity options alongside an array of data plans.

  • T-Mobile provides critical telecommunications infrastructure, such as 5G networks, that facilitates economic development for individuals and companies. T-Mobile’s 5G network is America’s largest, covering 1.6 million square miles, 280 million people and 9,100 cities and towns.
  • T-Mobile is a signatory to the RE100, a global initiative for businesses committed to using 100% renewable energy by the end of 2021. The company has set targets to reduce Scope 1, 2 and 3 greenhouse gas emissions in line with the goals outlined in the Paris Agreement; it has thus far reduced Scope 1 and 2 emissions by 19% and achieved a 14.4% reduction in Scope 3 emissions per customer.
  • Diversity in leadership is strong at T-Mobile: 50% percent of T-Mobile’s directors identify as a woman and/or racially or ethnically diverse, and each of its key board committees is chaired by a woman or diverse director. Forty-four percent of senior leadership team members identify as female or racially or ethnically diverse. The company’s five-year Equity In Action plan features programs and development efforts to further strengthen its pipeline of diverse talent.

Microsoft Corp (MSFT)

Microsoft Corporation develops, manufactures, licenses, sells and supports software products. The company offers operating system software, server application software, business and consumer applications software, software development tools and internet and intranet software.

  • We believe Microsoft is well-positioned to benefit from increased demand for energy-efficient IT infrastructure and services. The company is one of the largest cloud service providers globally. For customers with their own network operations, the company offers systems management software and virtualization technologies that can help improve the energy efficiency of onsite IT infrastructures and services.
  • Regarding its own environmental footprint, Microsoft has been carbon neutral since 2012 and recently pledged to become carbon negative by 2030. By 2025, the company will shift to 100 percent supply of renewable energy, and by 2030 it will reduce its Scope 3 emissions by more than half through several new initiatives.
  • The company provides extensive disclosure around its diversity and inclusion programs, employee demographics and pay equity. From the general manager level on up, Microsoft holds all leaders accountable by tying components of their compensation to their performance on diversity and inclusion.

Citizens Financial Group (CFG)

Citizens Financial Group, Inc. provides a full range of commercial banking services for retail and institutional customers. The bank offers consumer loans, commercial loans, mortgage loans, deposit products, internet banking and trust services.

  • Citizens’ products and services promote access to finance by enabling individuals and small- and medium-sized enterprises (SMEs) to make deposits and payments and obtain credit.
  • Citizens has established board level oversight of sustainability matters in line with best practice. Its compensation and HR committee oversees diversity, equality and inclusion programs, and the nominating and governance committee oversees ESG matters and reporting. Citizens has steadily increased its ESG disclosure during recent years and conducted a materiality assessment in 2020.
  • Citizens has implemented partnerships with community organizations to help identify diverse talent and requires a slate of at least 50% diverse candidates for senior openings. The company regularly reviews employee pay to ensure that equal pay is received for equal work throughout the company. In 2021, Citizens reported that women are paid 99% of what men are paid and there is no pay disparity for people of color.

Pax Large Cap Fund Top 10 Holdings

(As of 09/30/2021)
Holdings are subject to change.


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