Investor Statement

Many states are on the verge of eliminating access to abortion and other forms of reproductive health care for millions of Americans. Restrictions upon such care threaten the health, independence, and economic stability of employees, customers and society at large, with negative impacts falling disproportionately on people of color, low-wage workers, and other marginalized groups.

As long-term investors, we are cognizant that access to comprehensive reproductive health care is critical to full participation in the labor market and is a vital contributor to the growth, performance, and resilience of the U.S. economy. Indeed, a recent study has estimated that existing abortion restrictions “cost the U.S. an average of $173 billion per year by reducing labor force participation and earnings levels and increasing turnover and time off from work among women employed in the private sector.”[1] Research also indicates that abortion restrictions hinder the ability of businesses to attract and retain talent.[2]

Contraception and abortion remain an important part of health care for a significant share of women nationwide. [3] The future of gender equality in the U.S. hangs in the balance, putting families, communities, businesses, and the economy at risk. We believe, that as investors, reproductive health care needs of employees are essential to robust human capital management and linked to long-term financial health of our portfolio companies. We call on corporations to implement best practices in related insurance and benefits coverage, including ensuring access to comprehensive reproductive health care services; respect and protect the personal health information of patients and individuals; and provide family-friendly benefits.

[1] "Updated Analysis of the Cost of Abortion Restrictions to the States,” Institute for Women’s Policy Research, January 2024.
[2] ‪”How ‘Top Talent’ Views ‪Politics and Social Issues ‪in their Workplace,” Perry Undem, October 4, 2021 and “Poll: State Policies on Issues Such as Gun Violence, Abortion Access, Climate Change are Key Considerations for US Workers, Companies.”
[3] “Contraceptive Use in the United States by Demographics,” Guttmacher Institute, May 2021, and “Current Contraceptive Status Among Women Aged 15-49: United States, 2017-2019, Centers for Disease Control and Prevention," National Center for Health Statistics, Data Brief No. 388, October 2020.