Pension fund trustees in California want companies to publicly declare how they investigate harassment complaints, disclose settlement costs to investors, and publish information about policies to protect workers and promote diversity. (Photo: Shutterstock)
(Bloomberg) –A group of trustees from some of America's biggest public pensions are calling on companies to detail costs related to sexual harassment and any measures they're taking to address the problem.
“We don't see how it could possibly be accretive to corporate value to have a culture that allows for sexual harassment in the workplace,” said Priya Mathur, the departing president of the $345 billion California Public Employees' Retirement System, the largest U.S. pension fund.
Companies are losing customers, paying settlements and higher insurance costs and being distracted “from their core strategies because they have to deal with this.”
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