When Steve Wynn became the subject of allegations that he committed a series of sexual assaults, shares in his eponymous gaming company plunged 18 percent. Wynn is just the latest in a raft of sexual harassment and gender-based violence claims that have spread through the finance, technology, media, and other industries. Cornerstone Capital Group is calling on investors to demand greater transparency from companies on “sexual and gender-based violence” issues (SGBV) — a term defined as including both physical violence and emotional and psychological harassment. The investment firm also advocates for holding companies accountable for reducing SGBV and incentivizing them to do so.
In a report released on Monday, Cornerstone urged companies to look more closely into the potential for sexual harassment and gender-based violence, seek ways to eliminate or reduce it, and take claims from victims seriously. It also raises the possibility that issues related to SGBV might evolve into a material financial risk for companies that don’t take appropriate action. “Our view is that awareness of SGBV will expand to [other] industries,” the company wrote in the report.
