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	<title>Batch4.1 &#8211; Valutus</title>
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	<title>Batch4.1 &#8211; Valutus</title>
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		<title>Friedmanomics at 50: A &#8216;Chat&#8217; with Milton Friedman</title>
		<link>https://valutus.com/2020/06/25/friedmanomics-at-50-a-chat-with-milton-friedman/</link>
					<comments>https://valutus.com/2020/06/25/friedmanomics-at-50-a-chat-with-milton-friedman/#respond</comments>
		
		<dc:creator><![CDATA[R.O.I. Editor]]></dc:creator>
		<pubDate>Thu, 25 Jun 2020 17:23:10 +0000</pubDate>
				<category><![CDATA[Batch4]]></category>
		<category><![CDATA[Batch4.1]]></category>
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		<guid isPermaLink="false">https://valutus.com/?p=2646</guid>

					<description><![CDATA[The 50th Anniversary of Milton Friedman's famous screed on the folly of social responsibility for businesses is fast approaching. 

With a half-century now under our belts since then, we thought a (posthumous) chat with Mr. Friedman to review the results might be illuminating.]]></description>
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<p class="has-text-color has-dark-gray-color">Um… Milton? ‘Scuse me, can I have a word? Thanks. Listen, about your notion that business has only one responsibility – to make a profit – can we talk? Great.</p>
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<p class="has-text-color has-dark-gray-color">So, just 50 years ago you snarked in print that business leaders who care about anything other than shareholder value were “incredibly short-sighted and muddle-headed in matters that are outside their businesses…”<a href="https://mailchi.mp/c99ca5cd8a60/valutus-sustainability-roi-issue-26?e=3680ffdd48#_ftn1">[1]</a> do I have that right?</p>
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<p class="has-text-color has-dark-gray-color">Don’t bother to answer. After all, you’re dead and the words were printed in the <em>New York Times Magazine</em> five decades ago this September. I wanted to check in though, because there’s a new pandemic, a probable major recession, and massive social upheaval that may interest you. After all, you helped create all of it.</p>
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<p class="has-text-color has-dark-gray-color">Oh, yes you did. When you said business must be free to pursue nothing but profits “so long as it&#8230; engages in open and free competition without deception or fraud,” I’m wondering if, under the heading of ‘fraud’ you would include accounting that fails to report the real costs of the business?</p>
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<p class="has-text-color has-dark-gray-color">No, no, don’t interrupt. I want to know if you agree that a business’s profits should come <em>after</em> all other expenses, such as payroll, COGS, groundskeeping, capex, investments, depreciation, mortgages, legal indemnity, insurance, and cleanup around the office?</p>
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<p> </p>
<figcaption><strong>Milton Friedman with Richard Nixon, creator of the EPA, and the Clean Air and Clean Water acts. Photo by Volteurismo. Source: Wikimedia Commons</strong>.</figcaption>
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<p class="has-text-color has-dark-gray-color">You do? But, what if under ‘groundskeeping’ and ‘office cleanup’ we included the real environmental costs? I mean, you don’t just take the trash from your cubicle out into the street, shake it over the curb and wait for the public to pay for cleanup, do you? Of course you don’t. You do what responsible business owners do: you hire a company to come get your trash and you list that expense on your income statement as a balance against your profits.</p>
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<p class="has-text-color has-dark-gray-color">So why, when it comes to environmental costs – air, water, soil, oceans, forests, coastlines, warming, and increased frequency, range and power of extreme weather events, are you content to pass those cleanup and remediation costs – health, land-use, disposal, remediation, planetary regeneration – along to the general public? </p>
<p class="has-text-color has-dark-gray-color">Doesn&#8217;t that fall under your definition of &#8216;fraud?&#8217;</p>
<p><span style="color: #111111;">You believed that the environment was a slave to business, to the great economic engine that could continue to grow and grow, unchecked. If someone wanted to clean it up, well, that was their affair, but not the business of business, if you take my meaning.</span></p>
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<figcaption><strong>Open-pit coal mine. Photo by EwaStudio.</strong></figcaption>
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<p class="has-text-color has-dark-gray-color">But this pandemic, among other things, is a clear sign that the economy must still align itself with the environment: that, in fact, wholesale destruction of habitat wasn’t such a great idea in spite of the profits it generated, nor was the rape of West Virginia and the pouring of toxic detritus into local wetlands.</p>
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<p class="has-text-color has-dark-gray-color">Here’s the thing, Milt – may I call you Milt? Five decades after your highly influential screed in the <em>Times Magazine</em>, it is clear that your policies not only contributed greatly to the current degradation of the planet: they’re also a fraud. A fake.</p>
<p class="has-text-color has-dark-gray-color">In 2016 the U.N. commissioned a survey of top global industries’ profitability.<br />Incredibly, noted <em>Resilience, </em>“the report found that when you took the externalized costs into effect, essentially NONE of the industries was actually making a profit. The huge profit margins being made by the world’s most profitable industries (oil, meat, tobacco, mining, electronics) is being paid for against the future: we are trading long term sustainability for the benefit of shareholders.”<a href="https://mailchi.mp/c99ca5cd8a60/valutus-sustainability-roi-issue-26?e=3680ffdd48#_ftn1">[2]</a></p>
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					<div class="elementor-text-editor elementor-clearfix"><p class="has-text-color has-dark-gray-color"><span style="word-spacing: normal;">Nice! ‘The benefit of shareholders’ must have a congenial ring to you, Milt. But it’s not so congenial when those ‘benefits’ are exposed as, essentially, a sham, a chimera. A tax on the public.</span></p>
<p> </p>
<p class="has-text-color has-dark-gray-color">These industries also helped create the social mess going on during the current pandemic, by lobbying lavishly to dramatically undermine social structures, unions, state-and-national laws and environmental regulations, and by relying on corporations to provide health care and benefits that they’ve now – thanks, in part, to you – found ways around providing.</p>
<p> </p>
<p class="has-text-color has-dark-gray-color">Thanks to you again, they are rewarding themselves just as lavishly because they’ve done such a bang-up job providing shareholder value. They’ve done their best according to your definitions and, with few exceptions, they weren’t willing to do anything beyond – why should they? It’s not their job. Once again, those costs – social and financial – must be borne by the public.</p>
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<figcaption><span style="font-weight: bold;">Satellite photo of land cleared for palm oil plantations in Malaysia. </span><br /><span style="font-weight: bold;">Photo by NASA (2002)</span></figcaption>
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<p class="has-text-color has-dark-gray-color">And, because industry took on this notion, it did little or nothing to find less environmentally expensive ways to <em>do</em> business. It did little to find alternatives and to innovate so that things like burning down forests for a single crop, or glancing aside while enslaved children picked cacao, or carbonating the atmosphere, wasn’t necessary.</p>
<p> </p>
<p class="has-text-color has-dark-gray-color">Indeed, they went over even your line in the sand, and did much to lie, obfuscate and cloud the issue of global warming, putting us all on the brink of catastrophe while we scramble to get business to back away from your ideas.</p>
<p> </p>
<p class="has-text-color has-dark-gray-color"> </p>
<p> </p>
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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" class="wp-image-2652" src="https://valutus.com/wp-content/uploads/2020/06/FRIEDMAN-Ron_Reagan_Pres-Medal-of-Freedom_East_Room_Friedman_Source-white-house-wikipedia-1024x672.jpg" alt="" width="500" height="328" />
<p> </p>
<figcaption><span style="font-weight: bold;">Milton Friedman receives the Presidential Medal of Freedom from Ronald Reagan in the East Room of the White House in 1988 while Nancy Reagan looks on. Image source: White House via Wikipedia</span></figcaption>
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<p class="has-text-color has-dark-gray-color"> </p>
<p class="has-text-color has-dark-gray-color">Now, you didn’t force these companies to do the wrong thing. You simply gave them the ‘out’ they were looking for, the philosophical context within which to plow forward at the expense of their own planet and its populace. Yet that is always how it happens. An idea, for good or ill, can poison a world, and your idea gave license to those who gleefully adhered to your rationale. </p>
<p class="has-text-color has-dark-gray-color">It’s sad to say, Milt, but despite your Nobel prize, and broad acclamation for some of your very real accomplishments, what you will actually be remembered for is having written, championed, and presided over, the most disastrous economic idea in modern history.</p>
<p> </p>
<p class="has-text-color has-dark-gray-color">When all is said and done, Milt, you will still have your laurels while, in keeping with your notion of business, the rest of us pay for the cleanup. Rest in peace.</p>
<p> </p>
<p class="has-text-color has-dark-gray-color" style="font-size: 12px;"><span style="font-weight: bold;">References:</span><br /><a href="https://mailchi.mp/c99ca5cd8a60/valutus-sustainability-roi-issue-26?e=3680ffdd48#_ftnref1">[1]</a> The New York Times Magazine, <em>The Social Responsibility of Business is to Increase its Profits,</em><a href="https://graphics8.nytimes.com/packages/pdf/business/miltonfriedman1970.pdf">Sept 13, 1970</a><br /><a href="https://mailchi.mp/c99ca5cd8a60/valutus-sustainability-roi-issue-26?e=3680ffdd48#_ftnref1">[2]</a> Resilience, <em>Roundup</em>, New UN report finds almost no industry profitable if environmental costs were included, <a href="https://www.resilience.org/stories/2016-04-29/resilience-roundup-april-29/">April 2016</a></p></div>
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		<title>Who Do We Choose to Be?</title>
		<link>https://valutus.com/2020/06/22/who-do-we-choose-to-be-2/</link>
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		<dc:creator><![CDATA[R.O.I. Editor]]></dc:creator>
		<pubDate>Mon, 22 Jun 2020 13:33:04 +0000</pubDate>
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					<description><![CDATA[Some moments are so terrible and so clear that they spur change and demand action. The murder of George Floyd at the hands of officers of the Minneapolis Police Department is one of those moments.

Justice and equity are simply fundamental values, part of the definition of the world we want. And we need to bring them to life through action.]]></description>
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<p class="has-dark-gray-color has-text-color has-medium-font-size">Some moments are so terrible and so clear that they spur change and demand action. The murder of George Floyd at the hands of officers of the Minneapolis Police Department is one of those moments.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">Millions have already sent a clear message, through their words and by protesting: Black Lives Matter. And they’re absolutely right.</p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/06/DA-MESSAGE-GFloyd-Rock-by-DA-1-1024x768.jpg" alt="" class="wp-image-2602" width="768" height="576"/><figcaption><strong>Painted rock portrait at the George Floyd memorial, Montclair, New Jersey. </strong><br><strong>Photo by Daniel Aronson.</strong></figcaption></figure></div>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">Beyond the protests, many Americans are telling pollsters that they have changed their understanding of&nbsp;<strong>who we are</strong>&nbsp;as a country. In 2017, 57% of Americans had an&nbsp;<a href="https://www.newsweek.com/black-lives-matter-protests-police-646050">unfavorable view</a>&nbsp;of Black Lives Matter. Now,&nbsp;<a href="https://www.newsweek.com/black-lives-matter-protests-police-646050">53% support it</a>. Now,&nbsp;<a href="https://www.monmouth.edu/polling-institute/reports/monmouthpoll_US_060220/">a majority of Americans</a>&nbsp;(57%) say that police officers facing a tough situation are more likely to use excessive force if the culprit is black, while&nbsp;<a href="https://www.monmouth.edu/polling-institute/reports/monmouthpoll_US_060220/">in 2016 only 34% said so</a>.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">That’s a good shift, and long overdue. But it’s only the beginning. Now comes taking action, as workers, companies, and citizens, to bring our reality into line with who we want to be. Now comes the hard work of change.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">At Valutus, our work has always been deeply personal, rooted in what matters to us. That’s why we focus on&nbsp;<em>values</em>&nbsp;as well as value,<a href="https://mailchi.mp/c99ca5cd8a60/valutus-sustainability-roi-issue-26?e=3680ffdd48#_ftn1">[1]</a>&nbsp;and on the connection between them – for example, the connections between structural racism and economic opportunity and the fact that environmental harms hit Black Americans harder here in the US in addition to being harder on the most vulnerable elsewhere.<a href="https://mailchi.mp/c99ca5cd8a60/valutus-sustainability-roi-issue-26?e=3680ffdd48#_ftn2">[2]</a></p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/06/RECAP26-amplify-black-voices-clay-banks-PD-unsplash-1-1024x819.jpg" alt="" class="wp-image-2608" width="768" height="614"/><figcaption><strong>Black Lives Matter protest, Washington D.C., June 6, 2020. Photo by </strong></figcaption></figure></div>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">Because of the importance of living our values, these times have spurred us to do some self-examination and to look harder at our place in addressing racism. We know we don’t have all the answers, so we’re doing more listening, seeking to understand how we can help make America and the world more just. We’re also looking for ways we can help amplify Black voices so they reach more people. And we’re examining what we do to see how we can be more effective catalysts for change, in our work and in our personal lives.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">We believe combating inequality is an essential part of creating a sustainable future.<a href="https://mailchi.mp/c99ca5cd8a60/valutus-sustainability-roi-issue-26?e=3680ffdd48#_ftn3">[3]</a>&nbsp;There are practical reasons for this – for example, we know that equality makes societies more willing to preserve the natural world, and we understand that we need to inspire everyone to pull together, and only a more just world will do that.</p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/06/RECAP26-black-catalyst-matches-by-jamie-street-unsplash-1024x715.jpg" alt="" class="wp-image-2584" width="768" height="536"/><figcaption><strong>Photo by Jamie Street / Unsplash</strong></figcaption></figure></div>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">At a deeper level, though, justice and equity are simply fundamental values, part of the definition of the world we want. And we need to bring them to life through action.</p>



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<p class="has-dark-gray-color has-text-color has-normal-font-size"><strong>References:</strong><br>[1] In fact, we chose the name Valutus because it is the&nbsp;<a href="https://www.merriam-webster.com/dictionary/value#learn-more">Latin root</a>&nbsp;of both “value” and “values”<br>[2] The New York Times, <em>Read Up on the Links Between Racism and the Environment, </em><a href="https://www.nytimes.com/interactive/2020/06/05/climate/racism-climate-change-reading-list.html">June 5, 2020</a><br>[3] The New York Times<a href="https://mailchi.mp/c99ca5cd8a60/valutus-sustainability-roi-issue-26?e=3680ffdd48#_ftnref2">, </a><em>Black Environmentalists Talk About Climate and Anti-Racism, </em><a href="https://www.nytimes.com/2020/06/03/climate/black-environmentalists-talk-about-climate-and-anti-racism.html">June 3, 2020</a></p>



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		<title>Missing Persons: 56 Years Later, It&#8217;s Time to End This</title>
		<link>https://valutus.com/2020/06/19/missing-persons-56-years-later-its-time-to-end-this/</link>
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		<dc:creator><![CDATA[R.O.I. Editor]]></dc:creator>
		<pubDate>Fri, 19 Jun 2020 16:55:42 +0000</pubDate>
				<category><![CDATA[Batch4]]></category>
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		<category><![CDATA[VBlog]]></category>
		<guid isPermaLink="false">https://valutus.com/?p=2560</guid>

					<description><![CDATA[I was only five, but I remember the hunt for the bodies of Schwerner, Chaney and Goodman after the Freedom Summer murders in Mississippi in 1964. I recall watching the search on TV, my parents’ anguish, how sickened they appeared. A local Black man and two Jewish men from New York City had gone missing,&#8230;]]></description>
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<p class="has-dark-gray-color has-text-color has-medium-font-size">I was only five, but I remember the hunt for the bodies of Schwerner, Chaney and Goodman after the Freedom Summer murders in Mississippi in 1964. I recall watching the search on TV, my parents’ anguish, how sickened they appeared. A local Black man and two Jewish men from New York City had gone missing, abducted it appeared, and believed dead. </p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/06/VBLOG-MISSING-PERSONS-FBI_Poster_of_Missing_Civil_Rights_Workers-wikiped.jpg" alt="" class="wp-image-2561" width="508" height="783" srcset="https://valutus.com/wp-content/uploads/2020/06/VBLOG-MISSING-PERSONS-FBI_Poster_of_Missing_Civil_Rights_Workers-wikiped.jpg 400w, https://valutus.com/wp-content/uploads/2020/06/VBLOG-MISSING-PERSONS-FBI_Poster_of_Missing_Civil_Rights_Workers-wikiped-194x300.jpg 194w" sizes="auto, (max-width: 508px) 100vw, 508px" /><figcaption><strong>FYI Missing Persons Poster of Civil Rights Workers Andrew Goodman, </strong><br><strong>James Chaney, and Michael Schwerner, circa 1964</strong></figcaption></figure></div>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">The two Jewish boys, we learned later, were shot at close range and buried under an earthen dam. The young Black man, James Chaney, appears to have been buried beside them while still alive. It was the first time I knew anything about racism or its effects.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">I didn’t know it then, but the lynch mob that killed them was composed of “members of the local White Knights of the Ku Klux Klan, the Neshoba County Sheriff&#8217;s Office and the Philadelphia (Mississippi) Police Department&#8230;”<a href="#_ftn1">[1]</a>&nbsp;</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">That was 56 years ago. And here we are again.</p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/06/VBLOG-MISSING-PERSONS-Mississippi_KKK_Conspiracy_Murders_June_21_1964_Parties_To_The_Conspiracy-wikiped.jpg" alt="" class="wp-image-2562" width="689" height="317" srcset="https://valutus.com/wp-content/uploads/2020/06/VBLOG-MISSING-PERSONS-Mississippi_KKK_Conspiracy_Murders_June_21_1964_Parties_To_The_Conspiracy-wikiped.jpg 500w, https://valutus.com/wp-content/uploads/2020/06/VBLOG-MISSING-PERSONS-Mississippi_KKK_Conspiracy_Murders_June_21_1964_Parties_To_The_Conspiracy-wikiped-300x138.jpg 300w" sizes="auto, (max-width: 689px) 100vw, 689px" /><figcaption><strong>Nine men, including Neshoba County Sheriff Lawrence A. Rainey (top left) </strong><br><strong>were found to be parties in the conspiracy.</strong></figcaption></figure></div>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">The three young men were working to register Black people to vote as part of the civil rights movement. They were doing extraordinary things and were killed for it. But the lives of those whose names we’ve heard intoned like a litany, a dirge these past few weeks, were Black lives casually taken as they jogged, played, slept in their beds, snacked, barbequed in their own backyards, sat in their living rooms and their cars, or did any of the other quotidian things all people do. </p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">James Chaney’s name, and the names of hundreds of others, belong among them.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">Last week, as we all know, soldiers and police were once again out in force – and using force – in the streets of a dozen major American cities. This time, as we all know, the dam burst under the shock of watching a police officer slowly, painfully, and seemingly indifferently, snuff out yet another Black life. Crack!</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">There were no pointed hoods, no abduction in the dead of night, no attempt to hide the evidence. This one happened in plain sight, in daylight and in front of witnesses, by officers in full uniform.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">For 8 minutes and 46 horrifying seconds onlookers tried to intervene in the death of George Floyd while three other policemen looked on.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">Despite a constitution touting equality, far too much of the U.S. – and global – economy has been built upon a substrate of injustice, wealth inequity, and racism, all of which have been on full display since George Floyd took his last, tortured breath.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">In fact, members of the U.S. armed forces had to be <em>told</em>, last week, that it is inappropriate to display the battle flag of a group whose goal was to continue and perpetuate a slave-based society.</p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/06/VBLOG-MISSING-PERSONS-fire-andrew-donovan-valdivia-unsplash-1-683x1024.jpg" alt="" class="wp-image-2564" width="683" height="1024"/><figcaption><strong>Photo by Andrew &#8216;Donovan&#8217; Valdivia</strong></figcaption></figure></div>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">Crack! A torrent of boiling, raging, furious magma was released onto the streets in the form of grief, rage, peaceful protest, sometimes even violence, as bottled-up emotions exploded into full view. The country saw, in raw, unequivocal terms, that to those policemen the Black life of George Floyd did not matter. But it did matter. It does matter.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">This is not the piece anyone wants to be reading or writing. We want to read about how we’re solving the pandemic, and how we’re making progress on climate change, and about a new innovation that may be the answer to our power needs, or <em>anything</em> other than the news that this week yet more unarmed Black men have been shot by police or were found hanging under mysterious circumstances.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">We have a global virus and a global climate emergency and without unprecedented action at unprecedented speed, they will overwhelm us. But we can’t do so right now, when there are armies in riot gear breaking up legal protests rather than an army working to save the coastlines, working to move the hundreds of millions who, as we report in R.O.I. this week, will have to relocate as the seas inundate their communities.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">The one ray of light is that very thing: the speed and scale with which we now know the world can act together to tackle major disruptions.</p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/06/VBLOG-MISSING-PERSONS-BLM-Koln-Germany-mika-baumeister-unsplash-1024x684.jpg" alt="" class="wp-image-2566" width="768" height="513"/><figcaption><strong>Black Lives Matter Protest, Koln, Germany. Photo by Mika Baumeister.</strong></figcaption></figure></div>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">There is one other thing that is different this time. This time there are marches around the world. White people. Brown People, in dozens of countries, all marching, all demanding justice, all committed.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">My daughter is the same age I was when Schwerner, Chaney, and Goodman were killed. She has seen me watching, and she has seen the anguish on my face. She is the child of two races, half Asian, half Caucasian. It is impossible for me not to wonder if she will be writing something like this in 2076, when she is the age I am now.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">We cannot go on like this. Black lives matter and our society can’t be truly healthy until everyone in it understands that. Until no one needs to be told the Confederate battle flag has no place outside a museum. That flag, of course, hung over a short-lived confederacy founded “upon the great truth that the negro is not equal to the white man,” according to that entity’s Vice President.<a href="#_ftn1">[2]</a></p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">We can fix this, and we must. The climate is not holding still while we confront our demons. There are matters at hand that require the attention, and the best efforts of all of us. This could still be our finest hour. It <em>could</em> be.</p>



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<p class="has-dark-gray-color has-text-color has-medium-font-size">I won’t be around to see what my little girl, Kailin, has written some half-century hence. I can only trust it will be the story of how we saved the planet and warded off pandemics and of how she saw the Confederate battle flag somewhere, a relic, as she wandered in a museum, and wondered what it represented. </p>



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<p class="has-normal-font-size"><strong>References</strong><br><a href="#_ftnref1">[1]</a> <a href="https://en.wikipedia.org/wiki/Murders_of_Chaney,_Goodman,_and_Schwerner#Disposing_of_the_evidence">Wikipedia</a>, <em>Murders of Chaney, Goodman and Schwerner</em><br><a href="#_ftnref1">[2]</a> The ‘Cornerstone Speech’, from an address given in in Savannah, Georgia, by Confederate Vice President Alexander H. Stephens on <a href="https://en.wikipedia.org/wiki/Cornerstone_Speech">March 21, 1861</a></p>
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		<title>Submerged Value Is The Majority Of Value</title>
		<link>https://valutus.com/2020/05/13/submerged-value-is-the-majority-of-value/</link>
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		<dc:creator><![CDATA[Daniel]]></dc:creator>
		<pubDate>Thu, 14 May 2020 01:25:12 +0000</pubDate>
				<category><![CDATA[Batch4]]></category>
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		<category><![CDATA[Uncategorized]]></category>
		<guid isPermaLink="false">https://valutus.com/?p=2375</guid>

					<description><![CDATA[In another article, we discuss Submerged Value and note how much of the value of sustainability it represents. That article closes with the rather bold statement that normally submerged value rivals — or even exceeds — visible value. This article illustrates that in more detail. Over more than two decades of working on measurement and&#8230;]]></description>
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<p><span style="color: #000000;"><span style="color: #0000ff;"><a style="color: #0000ff;" href="https://valutus.com/2019/11/18/impacts-science-part-ii-submerged-value/">In another article</a></span>, we discuss Submerged Value and note how much of the value of sustainability it represents. That article closes with the rather bold statement that normally submerged value rivals — or even exceeds — visible value. </span><span style="color: #000000;">This article illustrates that in more detail. </span></p>
<p><span style="color: #000000;">Over more than two decades of working on measurement and valuation, we keep confronting a shocking result: submerged value isn’t just a nice add-on that rounds up the project’s visible benefits. Usually, it’s the<em> majority</em> of the project’s value.</span><br /><br /><span style="color: #000000;">Consider the story of a hospitality company with tens of thousands of employees. They’d been active in sustainability and CSR for years, and the executive in charge was highly experienced and respected.</span><br /><br /><span style="color: #000000;">The company knew sustainability and CSR activities were something employees liked, but they’d never been able to quantify their effects. As a result, when looking at the business benefits of their initiatives, they tended to focus on things like energy savings, for which they had good numbers. That meant that the ROI of sustainability and CSR wasn’t huge (though it was positive).</span></p>
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<figure class="aligncenter size-large is-resized"><span style="color: #000000;"><img loading="lazy" decoding="async" class="wp-image-2369" src="https://valutus.com/wp-content/uploads/2020/05/3M-submerged-measurement-by-jakob-boman-unsplash-1-1024x576.jpg" alt="This image has an empty alt attribute; its file name is SUBMERGED-III-whale-tail-by-Steve-Halama-unsplash-1024x683.jpeg" width="768" height="432" srcset="https://valutus.com/wp-content/uploads/2020/05/3M-submerged-measurement-by-jakob-boman-unsplash-1-1024x576.jpg 1024w, https://valutus.com/wp-content/uploads/2020/05/3M-submerged-measurement-by-jakob-boman-unsplash-1-300x169.jpg 300w, https://valutus.com/wp-content/uploads/2020/05/3M-submerged-measurement-by-jakob-boman-unsplash-1-768x432.jpg 768w, https://valutus.com/wp-content/uploads/2020/05/3M-submerged-measurement-by-jakob-boman-unsplash-1-1536x864.jpg 1536w, https://valutus.com/wp-content/uploads/2020/05/3M-submerged-measurement-by-jakob-boman-unsplash-1.jpg 1849w" sizes="auto, (max-width: 768px) 100vw, 768px" /></span></figure>
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<p><span style="color: #000000;">I asked the executive how much she believed the talent-related benefits of her sustainable activities were worth – that is, the value of these activities on things such as employee attraction and retention.</span><br /><br /><span style="color: #000000;">Now, I’ve asked this question of many, many companies over the years and had very few quantitative answers. The most common response, by far, is: “No idea. We’re not even sure how to answer that question.” Unfortunately, because “we don’t know” can’t be entered in a spreadsheet, the ROI value of something unknown is assigned the only value it <em>can’t</em> possibly have: Zero.<a style="color: #000000;" href="https://mailchi.mp/b68cd2b4f559/valutus-sustainability-roi-issue-18-greetings?e=3680ffdd48#_ftn1">[1]</a></span><br /><br /><span style="color: #000000;">But to her credit, <em>this</em> exec didn’t say, “I don’t know.” Instead, she estimated the value at about $3 million per year. She made it clear, however, that the company’s C-Suite would put the value at about $300K, ten percent of her estimate. This was very instructive.</span><br /><br /></p>
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<figure class="aligncenter size-large is-resized"><span style="color: #000000;"><img loading="lazy" decoding="async" class="wp-image-2371" src="https://valutus.com/wp-content/uploads/2019/11/SUBMERGED-underwater-w-rocks-by-Tyler-Lastovich-pexels-1024x768.jpg" alt="" width="768" height="576" /></span></figure>
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<p><span style="color: #000000;">First, it wasn’t good if C-Suite execs thought sustainability and CSR activity was worth so much less than she did.</span></p>
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<p><span style="color: #000000;">Second, the number she believed they’d support was very small. Her estimate of $3 million isn’t much for a multi-billion-dollar company, but $300K? That’s tiny for an organization that large, so small that many executives wouldn’t bother with any activity that size, let alone budget much money for it.</span></p>
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<p><span style="color: #000000;">Third, this allowed us to determine the percentage of sustainability’s talent-related value that was submerged. Once we determined the full value of the benefits, we could subtract her estimates, and the difference would show us how much value was submerged. </span></p>
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<figure class="aligncenter size-large is-resized"><span style="color: #000000;"><img loading="lazy" decoding="async" class="wp-image-2372" src="https://valutus.com/wp-content/uploads/2019/11/SUBMERGED-mans-head-half-submerged-by.-pixabay-ROI17-UG19-1-1024x683.jpg" alt="" width="768" height="512" srcset="https://valutus.com/wp-content/uploads/2019/11/SUBMERGED-mans-head-half-submerged-by.-pixabay-ROI17-UG19-1-1024x683.jpg 1024w, https://valutus.com/wp-content/uploads/2019/11/SUBMERGED-mans-head-half-submerged-by.-pixabay-ROI17-UG19-1-300x200.jpg 300w, https://valutus.com/wp-content/uploads/2019/11/SUBMERGED-mans-head-half-submerged-by.-pixabay-ROI17-UG19-1-768x512.jpg 768w, https://valutus.com/wp-content/uploads/2019/11/SUBMERGED-mans-head-half-submerged-by.-pixabay-ROI17-UG19-1-1536x1024.jpg 1536w, https://valutus.com/wp-content/uploads/2019/11/SUBMERGED-mans-head-half-submerged-by.-pixabay-ROI17-UG19-1.jpg 1920w" sizes="auto, (max-width: 768px) 100vw, 768px" /></span></figure>
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<p><span style="color: #000000;">We used conservative assumptions, which is our standard practice, since it shows we’re taking the analysis seriously, not just making up numbers that support our point of view. An added benefit: if we can make the case for sustainability or CSR using conservative numbers, any additional benefit is just a bonus.</span><br /><br /><span style="color: #000000;">As an example of our use of conservative numbers, <span style="color: #0000ff;"><a style="color: #0000ff;" href="https://www.emerald.com/insight/content/doi/10.1108/14720701011085544/full/html">published research</a></span> has shown social responsibility leadership resulting in a reduction in employee attrition of 25%-30% or more. In our calculations, we went with 10%.</span><br /><br /><span style="color: #000000;">It is also our standard practice to do the calculations <em>together with</em> executives, rather than doing the calculations and then trying to convince them our numbers are right. Using our interactive <em>Talent Benefit Valuation Tool</em>, we sit with executives and help them enter numbers that make sense to them, so they’ll feel more comfortable with the results.</span></p>
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<p><span style="color: #000000;">Returning to the hospitality example, the result of calculating the true value of sustainability and CSR efforts <em>for talent-related benefits alone</em> was about $30 million per year, or ten<em> times</em> what the executive had estimated, and <em>100 times</em> what she thought her C-Suite would assume. In this company’s case, the vast, vast majority of value was submerged.</span></p>
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<figure class="aligncenter is-resized"><span style="color: #000000;"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2019/10/SUBMERGED-table-with-computer-and-phone-execs-by-Jonathan-Velasquez-unsplash-1024x683.jpeg" alt="This image has an empty alt attribute; its file name is SUBMERGED-table-with-computer-and-phone-execs-by-Jonathan-Velasquez-unsplash-1024x683.jpeg" width="768" height="512" /></span>
<figcaption><span style="color: #000000;">Photo by Jonathan Velasquez / Unsplash</span></figcaption>
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<p><span style="color: #000000;">When we get a result like that, the typical first response is, “Wow! That’s a lot more than we thought!” This is usually followed closely by, “we <em>must</em> have put an incorrect number in here somewhere!” Both responses are legitimate. It’s often the case, with a result so dramatically different from expectations, that the calculation <em>is</em> wrong. Therefore, our approach is not to argue — at all. We simply go through the calculation and offer to change any number in it.</span><br /><br /><span style="color: #000000;">Once we do that, the tool updates its calculation instantly and executives see that, while the total changes, it’s not enough to change the obvious conclusion: that sustainability is being greatly undervalued. For example, in a case like this one, the value might drop from $30M to $28M. That’s less, but it is still enormously more than previously believed.</span><br /><br /><span style="color: #000000;">At this point, we’re often asked to change a second number, and again the total changes somewhat, but the conclusion does not. Perhaps we’re asked to make a third change, meaning we’ve now reduced three numbers (numbers that were already conservative) – but, just as before, while the final value goes down it’s still many times what was previously thought.</span><br /><br /><span style="color: #000000;">In the example above, even if the value dropped to $25M, that’s still more than eight times as much as the executive previously thought, and 80 times her estimate of what the C-Suite believed.</span></p>
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<figure class="aligncenter size-large is-resized"><span style="color: #000000;"><img loading="lazy" decoding="async" class="wp-image-2373" src="https://valutus.com/wp-content/uploads/2019/11/signs-of-shift-water-level-depth-meter-CTGZF9V-1024x576.jpg" alt="" width="768" height="432" /></span></figure>
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<p><span style="color: #000000;">So, stepping back from this specific corporation for a moment, what general lessons can we take from this?</span><br /><br /><span style="color: #000000;">First, it’s certainly clear that surfacing and quantifying submerged value <em>matters</em>. If executives believe sustainability’s value is much lower than it really is, what’s the likelihood they are investing the proper amount in sustainability and CSR programs? Second, it’s also clear that using interactive tools, and a we’re-doing-this-together approach, matters too.</span></p>
<p><span style="color: #000000;"></span></p>
<p><span style="color: #000000;">Third, we need to welcome the chance to talk about value. Sustainability and CSR are much more valuable than people believe because most of that value is submerged. Surfacing and quantifying that value matters. A lot. </span></p>
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<figure class="aligncenter size-large is-resized"><span style="color: #000000;"><img loading="lazy" decoding="async" class="wp-image-2252" src="https://valutus.com/wp-content/uploads/2020/05/VALUES-Oceans-7-Pixabay-1024x503.jpg" alt="" width="768" height="377" srcset="https://valutus.com/wp-content/uploads/2020/05/VALUES-Oceans-7-Pixabay-1024x503.jpg 1024w, https://valutus.com/wp-content/uploads/2020/05/VALUES-Oceans-7-Pixabay-300x148.jpg 300w, https://valutus.com/wp-content/uploads/2020/05/VALUES-Oceans-7-Pixabay-768x378.jpg 768w, https://valutus.com/wp-content/uploads/2020/05/VALUES-Oceans-7-Pixabay-1536x755.jpg 1536w, https://valutus.com/wp-content/uploads/2020/05/VALUES-Oceans-7-Pixabay.jpg 1920w" sizes="auto, (max-width: 768px) 100vw, 768px" /></span></figure>
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		<title>International Women’s Day: Women Heads of State Ascendant</title>
		<link>https://valutus.com/2020/05/07/international-womens-day-women-heads-of-state-ascendant/</link>
					<comments>https://valutus.com/2020/05/07/international-womens-day-women-heads-of-state-ascendant/#respond</comments>
		
		<dc:creator><![CDATA[R.O.I. Editor]]></dc:creator>
		<pubDate>Thu, 07 May 2020 16:54:41 +0000</pubDate>
				<category><![CDATA[Batch4]]></category>
		<category><![CDATA[Batch4.1]]></category>
		<category><![CDATA[VROI]]></category>
		<guid isPermaLink="false">https://valutus.com/?p=2360</guid>

					<description><![CDATA[In recent years, we’ve seen the ranks of doctors, combat pilots, astronauts, scientists, raconteurs, executives, administrators, fighters, judges, and more swelled by women.

There is no greater showcase for the skills and character of women, however, than in the role of head of government. 

Quick. Decisive. Smart. Strong. Good communicators. Warm. Empathic. “Who knew?” Everyone should have.  ]]></description>
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<p class="has-medium-font-size">In one very important sense, women have come a tremendous distance. The image of women as primarily domestic companions is no longer culturally prevalent.</p>
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<p class="has-medium-font-size">Television now showcases many brilliant and powerful women. The speed, power, skill, tenacity, teamwork, aggression, and competitive spirit of women are now as clear to see in women’s sports as they are in men’s.</p>
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<p class="has-medium-font-size">And what is on TV can matter. Indeed, a 2009 study reported rather dramatic improvements in women’s equality across numerous statistics once cable television – portraying women in more powerful and equal roles in domestic and business life – reached towns in rural India.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[1]</a></p>
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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/05/WOMEN-runners-on-a-track-Cropped-jonathan-chng-unspl.png" alt="" class="wp-image-2362" width="702" height="520"/><figcaption><strong>By Jonathan Chng / Unsplash</strong></figcaption></figure>
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<p class="has-medium-font-size">In recent years, we’ve seen the ranks of doctors, combat pilots, astronauts, scientists, raconteurs, executives, administrators, fighters, judges, and more swelled by women.</p>
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<p class="has-medium-font-size">There is no greater showcase for the skills and character of women, however, than in the role of head of government.&nbsp;</p>
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<p class="has-medium-font-size">It could legitimately be argued that Angela Merkel, the German Chancellor, is now ascendant in global politics.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[2]</a>&nbsp;By many accounts she is the most powerful woman in the world, and she has occupied that role while steering Europe’s largest economy, dominating the European Union, and going toe-to-toe with U.S. presidents – in particular the current White House occupant.</p>
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<p class="has-medium-font-size">With a doctorate in quantum chemistry<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[3]</a>, a fluency in several languages – including German, Russian and English – and having weathered a number of global and local crises, Merkel has once again proved herself in the current pandemic, one of several female national leaders who can make that claim. Indeed, the nations with women at the helm have done remarkably well battling or preventing COVID-19.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[4]</a></p>
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<p class="has-medium-font-size">Tsai Ing-wen, the Taiwanese president since 2008 – a law PhD. from the London School of Economics – took immediate steps once it was known there was an infectious virus on the mainland. She rapidly developed “124 measures to block the spread.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn2">[5]</a>&nbsp;As of the end of April 2020, only six had died from COVID-19 in Taiwan,<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn3">[6]</a>&nbsp;an extraordinarily low number for a nation of 23 million.</p>
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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/05/WOMEN-Angela-Merkel-Cropped.png" alt="" class="wp-image-2364" width="699" height="729"/><figcaption><strong>Prime Minister of Norway, Erna Solberg in 2011. Photo by&nbsp;Christian Fredrik Wesenberg.<br />Source: Wikipedia&nbsp;</strong></figcaption></figure>
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<p class="has-medium-font-size">New Zealand, led by Jacinda Ardern, has also done exceptionally well. A self-styled progressive who, at 37, became the youngest woman ever to lead a nation – and only the second with a child born while in office<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[7]</a>&nbsp;– Ardern’s country has managed to keep the novel coronavirus at bay. As&nbsp;<em>Forbes</em>&nbsp;put it, “clarity and decisiveness are saving New Zealand from the storm.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn2">[8]</a>&nbsp;Ardern’s public approval holds at around 80% and her country had lost only 19 people to the virus by the end of April.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn3">[9]</a></p>
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<p class="has-medium-font-size">The Prime Minister of Norway, Erna Solberg, held a televised, children-only, town-hall-style press conference,<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn4">[10]</a>&nbsp;calming and validating children’s fears and explaining the pandemic. As&nbsp;Aviva Wittenberg-Cox, writing in&nbsp;<em>Forbes,</em>&nbsp;points out, “The originality and obviousness of the idea takes one’s breath away. How many other simple, humane innovations would more female leadership unleash?”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[11]</a></p>
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<p class="has-medium-font-size">As&nbsp;<em>The Guardian&nbsp;</em>succinctly put it, “Plenty of countries with male leaders – Vietnam, the Czech Republic, Greece, Australia – have also done well. But few with female leaders have done badly.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[12]</a></p>
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<p class="has-medium-font-size">As to why, theories abound. Countries that elect women are more likely to respond well to government; the sample size is too small to draw comparisons; men are trapped in male expectations of leadership, and so on.</p>
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<p class="has-medium-font-size">Of the contrast between these women and male strongmen like the Brazilian, American and Filipino presidents, Wittenberg-Cox says,&nbsp;</p>
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<p class="has-medium-font-size"><em>“Generally, the empathy and care which all of these female leaders have communicated seems to come from an alternate&nbsp;universe than the one we have gotten used to. It’s like their&nbsp;arms are coming out of their videos to hold you close in a heartfelt and loving embrace. Who knew leaders could sound like this? Now we do.”</em><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[13]</a></p>
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<p class="has-medium-font-size">Quick. Decisive. Smart. Strong. Good communicators. Warm. Empathic.</p>
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<p class="has-medium-font-size">“Who knew?” Everyone should have. &nbsp;</p>
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<p class="has-medium-font-size">[Note: this concludes our 5-part series on International Women&#8217;s Day 2020]</p>
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<p class="has-medium-font-size"><strong>References:</strong></p>
<p class="has-normal-font-size"><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[1]</a><em>The&nbsp;National Bureau of Economic Research</em>, &nbsp;<em><a href="https://www.nber.org/digest/dec07/w13305.html">Cable Television Raises Women’s Status in India</a></em><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[2]</a>&nbsp;The Independent,&nbsp;<em>Angela Merkel is Now the Leader of the Free World, Not Donald Trump,&nbsp;</em><a>Feb 2017</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[3]</a>&nbsp;Wikipedia,&nbsp;<em>Angela Merkel:&nbsp;<a href="https://en.wikipedia.org/wiki/Angela_Merkel#Education_and_scientific_career">Education and Scientific Career</a></em><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[4]</a>&nbsp;Forbes,&nbsp;<em>What Do Countries with the Best Coronavirus Responses Have in Common? Women Leaders,&nbsp;</em><a href="https://www.forbes.com/sites/avivahwittenbergcox/2020/04/13/what-do-countries-with-the-best-coronavirus-reponses-have-in-common-women-leaders/#163f5b8a3dec">April 2020</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref2">[5]</a>&nbsp;Ibid<br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref3">[6]</a>&nbsp;Our World in Data,&nbsp;<em>Total Confirmed Deaths by Country,</em>&nbsp;Updated to&nbsp;<a href="https://ourworldindata.org/coronavirus">April 25, 2020</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[7]</a>&nbsp;Wikipedia,&nbsp;<em>Jacinda Ardern,</em><a href="https://en.wikipedia.org/wiki/Jacinda_Ardern">Updated 2020</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref2">[8]</a>&nbsp;Forbes,&nbsp;<em>What Do Countries with the Best Coronavirus Responses Have in Common? Women Leaders,&nbsp;</em><a href="https://www.forbes.com/sites/avivahwittenbergcox/2020/04/13/what-do-countries-with-the-best-coronavirus-reponses-have-in-common-women-leaders/#163f5b8a3dec">April 2020</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref3">[9]</a>&nbsp;The Guardian,&nbsp;<em>Why Do Female Leaders Seem to be More Successful at Managing the Coronavirus?</em><a href="https://www.msn.com/en-nz/news/world/why-do-female-leaders-seem-to-be-more-successful-at-managing-the-coronavirus-crisis/ar-BB13ckwh?li=BBqdg4K">April 25, 2020</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref4">[10]</a>&nbsp;HuffPost,&nbsp;<em>Norway’s PM Holds Coronavirus Press Conference for Kids, Says it’s OK to be Scared,&nbsp;</em><a href="https://www.huffpost.com/entry/norway-coronavirus-press-conference_n_5e7108d4c5b60fb69ddf303a">March 2020</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[11]</a>&nbsp;Forbes Editors Pick, Aviva Wittenberg-Cox, contributor,&nbsp;<em>What Do Countries with the Best Coronavirus Responses Have in Common? Women Leaders,&nbsp;</em><a rel="noreferrer noopener" href="https://www.forbes.com/sites/avivahwittenbergcox/2020/04/13/what-do-countries-with-the-best-coronavirus-reponses-have-in-common-women-leaders/#29a452cf3dec" target="_blank">April 13 2020</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[12]</a>&nbsp;The Guardian,&nbsp;<em>Why Do Female Leaders Seem to be More Successful at Managing the Coronavirus?</em><a href="https://www.msn.com/en-nz/news/world/why-do-female-leaders-seem-to-be-more-successful-at-managing-the-coronavirus-crisis/ar-BB13ckwh?li=BBqdg4K">April 25, 2020</a><br /><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[13]</a>&nbsp;Forbes Editors Pick, Aviva Wittenberg-Cox, contributor,&nbsp;<em>What Do Countries with the Best Coronavirus Responses Have in Common? Women Leaders,&nbsp;</em><a rel="noreferrer noopener" href="https://www.forbes.com/sites/avivahwittenbergcox/2020/04/13/what-do-countries-with-the-best-coronavirus-reponses-have-in-common-women-leaders/#29a452cf3dec" target="_blank">April 13 2020</a> </p>
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		<title>International Women’s Day: Education Hasn&#8217;t Graduated Yet</title>
		<link>https://valutus.com/2020/05/07/international-womens-day-education-hasnt-graduated-yet/</link>
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		<dc:creator><![CDATA[R.O.I. Editor]]></dc:creator>
		<pubDate>Thu, 07 May 2020 13:33:06 +0000</pubDate>
				<category><![CDATA[Batch4]]></category>
		<category><![CDATA[Batch4.1]]></category>
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		<guid isPermaLink="false">https://valutus.com/?p=2355</guid>

					<description><![CDATA[In the United States, female teachers vastly outnumber male. Yet that is where the parity stops. The fourth in our five-part series on International Women's Day, this one focuses on education.]]></description>
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<p class="has-dark-gray-color has-text-color has-medium-font-size">In the United States, female teachers vastly outnumber male<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[1]</a>, and around 72%<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn2">[2]</a>&nbsp;of public-school principals are women. Yet that is where the parity stops: Superintendents, as of 2019, were more than 85% male.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn3">[3]</a></p>



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<p class="has-medium-font-size">Once again, the Big Chair proves largely elusive.</p>



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<p class="has-medium-font-size">At the college level, women have clawed their way to representing significant portions of college professors, yet there is still an imbalance in tenured and top-ranked positions.</p>



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<p class="has-medium-font-size">India’s universities have about 27% female full professorships, much higher numbers for lower teaching positions<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[4]</a>, a paradigm that appears to be true across the global board.</p>



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<p class="has-medium-font-size">More than half of Japan’s junior college instructors, for example, are women, but at the university level that is cut in half, to just under 25%. Just about half of all college instruction in the U.S. is done by women, but for full professorships, that number falls to about 39%.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[5]</a></p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/05/WOMEN-GSimpson-wiki.jpg" alt="" class="wp-image-2357" width="600" height="735"/><figcaption><strong>Georgiana Simpson, first U.S. black PhD, receiving her degree at the University of Chicago, circa 1921. Source: Wikipedia</strong></figcaption></figure></div>



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<p class="has-medium-font-size">This – as appears to be the norm across disciplines – rolls upward to college presidents as well. Currently, less than a third are women, and those women generally serve shorter tenures.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[6]</a></p>



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<p class="has-medium-font-size">While women have made tremendous strides in education and academic administration, there clearly is room – a lot of room – for more.</p>



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<p class="has-medium-font-size"><strong>References</strong></p>



<p class="has-normal-font-size"><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[1]</a>&nbsp;Education Week,&nbsp;<em>Education Statistics: Facts About American Schools</em>,&nbsp;<a href="https://www.edweek.org/ew/issues/education-statistics/index.html#staff">Dec. 2019</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref2">[2]</a>&nbsp;Ibid<br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref3">[3]</a>&nbsp;Bellweather, Ahead of the Heard,&nbsp;<a rel="noreferrer noopener" href="https://aheadoftheheard.org/where-are-all-the-female-superintendents/" target="_blank"><em>Where Are All the Female Superintendents?</em></a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[4]</a>&nbsp;Catalyst,&nbsp;<em>Women in Academia: Quick Take,&nbsp;</em><a href="https://www.catalyst.org/research/women-in-academia/">Jan. 2020</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[5]</a>&nbsp;Ibid<br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[6]</a>&nbsp;Ibid</p>
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		<title>International Women’s Day:  Where Did it Go?</title>
		<link>https://valutus.com/2020/05/04/international-womens-day-where-did-it-go/</link>
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		<dc:creator><![CDATA[R.O.I. Editor]]></dc:creator>
		<pubDate>Mon, 04 May 2020 16:10:47 +0000</pubDate>
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		<category><![CDATA[Batch4.1]]></category>
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					<description><![CDATA[For a hundred years, March has hosted International Women’s Day, an event to recognize the achievements of women – and their struggles to make those achievements into reality. It is a day to remember how far women have come, and how far there still is to go, in terms of true equality. ]]></description>
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<p class="has-medium-font-size">For a hundred years, March has hosted International Women’s Day, an event to recognize the achievements of women – and their struggles to make those achievements into reality. It is a day to remember how far women have come, and how far there still is to go, in terms of true equality.</p>



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<p class="has-medium-font-size">Yet this March also hosted something less worthy of celebration, something so vast and all-encompassing that International Women’s Day may have been subsumed by it.</p>



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<p class="has-medium-font-size">While we’ve taken due note of the current pandemic elsewhere, we wanted to ensure the struggles and triumphs of women were not lost entirely because of it; hence the special focus of this issue.</p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/05/WOMEN-Hands-for-Womens-Day-Screen-Shot.png" alt="" class="wp-image-2312" width="1000" height="458" srcset="https://valutus.com/wp-content/uploads/2020/05/WOMEN-Hands-for-Womens-Day-Screen-Shot.png 1000w, https://valutus.com/wp-content/uploads/2020/05/WOMEN-Hands-for-Womens-Day-Screen-Shot-300x137.png 300w, https://valutus.com/wp-content/uploads/2020/05/WOMEN-Hands-for-Womens-Day-Screen-Shot-768x352.png 768w" sizes="auto, (max-width: 1000px) 100vw, 1000px" /></figure></div>



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<p class="has-medium-font-size">This ‘Day’ is no stranger to great forces working upon the world. It was born in the crucible leading to the Russian revolution<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[1]</a>, when women not only fought for freedom from the Tsars, but also for the right to vote and have an equal say in Russian life. They won the vote although, as elsewhere, the power it should render has largely eluded them since.&nbsp;</p>



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<p class="has-medium-font-size">American women were guaranteed the vote three years later, and the first International Women’s Day in March 1911 drew&nbsp;“more than 1 million people to rallies worldwide.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[2]</a>&nbsp;That was quite a feat without social media, telephones, television, or radio.</p>



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<p class="has-medium-font-size">Legally guaranteed rights, however, do not guarantee equal treatment on the ground, and the playing field is still far from level.</p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/05/WOMEN-Girl-Carrying-Jerrican-cropped-1.png" alt="" class="wp-image-2314" width="696" height="636"/></figure></div>



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<p class="has-medium-font-size">In many parts of the world, women have not progressed much beyond their lot in the time of Abraham – and Sarah. A 2016 UNICEF report found that women and girls devoted 200 million hours per day to simply fetching and carrying water, a “colossal waste of time.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[3]</a>&nbsp;</p>



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<p class="has-medium-font-size">We also know that “more than 200 million girls and women alive today have been cut [by some form of genital mutilation] in Africa, the Middle East and Asia.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn2">[4]</a></p>



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<p class="has-medium-font-size">In Afghanistan, only one of every three girls attends school regularly.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn3">[5]</a></p>



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<p class="has-medium-font-size">As of 2018 there were only 20 female heads of government,<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[6]</a>&nbsp;in a 196-nation world – under 11%. As of October, 2019, national parliaments were just shy of 25% women.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn2">[7]</a>&nbsp;</p>



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<p class="has-medium-font-size">“We have created a world where women are squeezed into just 25 per cent of the space – in parliaments and in other critical decision-making spaces,” UN Women Executive Director Phumzile Mlambo-Ngcuka said, adding, “Yet we know that more women in high-level political decision-making positions leads to policies that benefit the whole of society.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn3">[8]</a>&nbsp;Indeed, it should be noted that her own organization, the United Nations, has yet to be led by a woman.</p>



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<p class="has-medium-font-size">As paltry as the numbers above are, they still represent some measure of progress. A map of women’s role in politics shows that women are making political strides, from heads of governments to ministerial roles. (In the latter category, by the way, the United States currently ranks 107<sup>th</sup>&nbsp;in a field of 191, and 82<sup>nd</sup>&nbsp;in parliamentary posts right behind Armenia.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[9]</a>)</p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/05/WOMEN-Turkish-women-on-street-w-moderb-woman-1.png" alt="" class="wp-image-2316" width="701" height="481" srcset="https://valutus.com/wp-content/uploads/2020/05/WOMEN-Turkish-women-on-street-w-moderb-woman-1.png 608w, https://valutus.com/wp-content/uploads/2020/05/WOMEN-Turkish-women-on-street-w-moderb-woman-1-300x206.png 300w" sizes="auto, (max-width: 701px) 100vw, 701px" /></figure></div>



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<p class="has-medium-font-size">Saudi women voted<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[10]</a>&nbsp;for the first time in 2015, a change perhaps made in an attempt to raise that nation’s rankings from “141 out of 144 countries for gender parity.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn2">[11]</a></p>



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<p class="has-medium-font-size">It is not just politics, however – there is plenty of economic inequality too. At the top, in the billionaire ranks, there is a vast disparity: of the 2,095 on&nbsp;<em>Forbes</em>’ list this year, a mere 243 are women, some 11.6%.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn3">[12]</a>,<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn4">[13]</a></p>



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<p class="has-medium-font-size">On the other end of the spectrum, more than 530 million women cannot read or write, north of two thirds of the global illiterates.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn5">[14]</a>&nbsp;As&nbsp;<em>Wired</em>&nbsp;noted in 2018, “Although the education of girls in a small number of countries is at, or approaching, parity with&nbsp;boys, for most of the planet, this remains distressingly elusive. Poverty, along with community traditions, tends to hold back girls as boys are prioritized.”<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[15]</a>&nbsp;</p>



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<p class="has-medium-font-size">As we have highlighted in the past, when a family member is sick, it is generally a girl who stays home to provide care, missing school or her own work to do it.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[16]</a></p>



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<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://valutus.com/wp-content/uploads/2020/05/WOMEN-Greta-Thunberg-at-Marche_pour_le_climat_27-09-2019_Montréal_wiki-1-1024x683.jpg" alt="" class="wp-image-2318" width="701" height="466"/><figcaption><strong>Activist Greta Thunberg speaking at the Marche pour le climat, Montreal, 2019. Source: Wikipedia</strong></figcaption></figure></div>



<p class="has-medium-font-size">In the West at least, as&nbsp;<em>Wired&nbsp;</em>points out, women have come a long way in the educational arena. In 1940, 3.8% of U.S. women graduated from college to 5.5% for men.<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn1">[17]</a>&nbsp;Today, a shade more women graduate with a degree (36.6%) than men (34.6%).<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn2">[18]</a></p>



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<p class="has-medium-font-size">After years of mismatched gender population rates “over half (11) of the Top 20 business schools in the world have now balanced their MBA student populations<a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn3">[19]</a>, and more are nearing parity. This should positively contribute to a continued knock-on effect in company leadership, salaries and pay gaps in the coming years,” according to&nbsp;<em>Forbes.</em><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftn4">[20</a>]</p>



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<p class="has-medium-font-size">Let’s be clear, there has been tremendous progress, and progress is good. Yet a hundred years after the 19<sup>th</sup>&nbsp;amendment was ratified, is that enough? Women are now integral parts of government, courts, armed forces, and the workforce at large, and have thoroughly proven their value in each. Yet they are still dramatically outnumbered at the tops of those institutions.</p>



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<p class="has-medium-font-size">In honor of International Women’s Day 2020, we’ve devoted this issue to the distance women have come, and the challenges women face: day in and out; in the workplace and out.</p>



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<p><strong>REFERENCES:</strong><br>[1] History,&nbsp;<em>The Surprising History&nbsp;</em><a href="https://www.history.com/news/the-surprising-history-of-international-womens-day"><em>of international Women’s Day</em></a><br>[2] Ibid<br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[3]</a>&nbsp;UNICEF,&nbsp;<em>Collecting Water is Often a Colossal Waste of Time for Women and Girls,&nbsp;</em><a href="https://www.unicef.org/press-releases/unicef-collecting-water-often-colossal-waste-time-women-and-girls">Aug 2016</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref2">[4]</a>&nbsp;World Health Organization (WHO),<em>&nbsp;Female Genital Mutilation</em>,&nbsp;<a href="https://www.who.int/news-room/fact-sheets/detail/female-genital-mutilation">Feb 2020</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref3">[5]</a>&nbsp;The Borgen Project,&nbsp;<em>Top 10 Facts About Girls’ Education in Afghanistan,&nbsp;</em><a href="https://borgenproject.org/facts-about-girls-education-in-afghanistan/">July 2018</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[6]</a>&nbsp;First Ladies International,&nbsp;<em>2018 – Women and Political Leadership – Female Heads of State and Heads of Government,&nbsp;</em><a href="https://firstladies.international/2018/02/20/2018-women-and-political-leadership-female-heads-of-state-and-heads-of-government/">Feb 2018</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref2">[7]</a>&nbsp;Archive.I.P.U.,&nbsp;<em>Women in National Parliaments,&nbsp;</em><a href="http://archive.ipu.org/wmn-e/arc/world011019.htm">Oct 2019</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref3">[8]</a>&nbsp;Inter-Parliamentary Union,&nbsp;<em>In 2020, World “Cannot Afford” So Few Women in Power,&nbsp;</em><a href="https://www.ipu.org/news/press-releases/2020-03/in-2020-world-cannot-afford-so-few-women-in-power#_ftn1">2020</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[9]</a>&nbsp;Inter-Parliamentary Union,&nbsp;<em>Women in Politics:&nbsp;<a href="https://www.ipu.org/resources/publications/infographics/2020-03/women-in-politics-2020">2020</a></em><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[10]</a>&nbsp;BBC News,&nbsp;<em>Saudi Arabia’s Women Vote in Election for First Time,&nbsp;</em><a href="https://www.bbc.com/news/world-middle-east-35075702">Dec 2015</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref2">[11]</a>&nbsp;Wikipedia,&nbsp;<a href="https://en.wikipedia.org/wiki/Women%27s_rights_in_Saudi_Arabia"><em>Women’s Rights in Saudi Arabia</em></a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref3">[12]</a>&nbsp;Forbes,&nbsp;<em>The World’s Real-Time Billionaires List,&nbsp;</em><a href="https://www.forbes.com/real-time-billionaires/#71a8777e3d78">202</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref4">[13]</a>&nbsp;Wikipedia,&nbsp;<em>List of Female Billionaires,&nbsp;</em><a href="https://en.wikipedia.org/wiki/List_of_female_billionaires">2019</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[14]</a>&nbsp;Wired,&nbsp;<em>To Stop Climate Change, Educate Girls and Give Them Birth Control,&nbsp;</em><a href="https://www.wired.com/story/to-stop-climate-change-educate-girls-and-give-them-birth-control/">Feb 2018</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref5">[15]</a>&nbsp;U.N. Women,&nbsp;<em>Facts and Figures</em><a href="https://www.unwomen.org/en/news/in-focus/commission-on-the-status-of-women-2012/facts-and-figures">https://www.unwomen.org/en/news/in-focus/commission-on-the-status-of-women-2012/facts-and-figures</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[16]</a>&nbsp;Valutus,&nbsp;<em>Impacts Science Part II: Submerged Value,&nbsp;</em><a href="https://valutus.com/2019/11/18/impacts-science-part-ii-submerged-value/">Nov 2018</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref1">[1</a>7]&nbsp;Statista.com,&nbsp;<em>Percentage of the U.S. population who have completed four years of college or more from 1940 to 2018</em><a href="https://www.statista.com/statistics/184272/educational-attainment-of-college-diploma-or-higher-by-gender/"><em>, by gender</em></a><em>.</em><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref2">[18]</a><a href="https://www.statista.com/statistics/184272/educational-attainment-of-college-diploma-or-higher-by-gender/">Ibid</a><br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref3">[19]</a>&nbsp;Defined as a maximum of 60% of any gender<br><a href="https://mailchi.mp/e036d5d0ad95/valutus-sustainability-roi-issue-25-intl-womens-day-spl-edition?e=3680ffdd48#_ftnref4">[20]</a>&nbsp;Forbes,&nbsp;<em>Business Schools are Balancing, At Last,&nbsp;</em><a href="https://www.forbes.com/sites/avivahwittenbergcox/2020/03/02/business-schools-are-balancing-at-last/#4bd3c3b81599">March 2020</a></p>
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