Is 'Diversity Of Thought' Diverse?

Discussions about equality, diversity and inclusion (DE&I) in the Pensions industry and beyond are increasingly centring on "diversity of thought". We look at what different people mean by this phrase, how trustees and other decision-makers can tackle "groupthink", and why this matters for our industry, for members, and for the success of Environmental, Social and Governance (ESG) initiatives.

It is widely (though not uniformly) acknowledged that diverse groups that operate in an inclusive way, including trustee boards, are likely to make better decisions. The Pensions Regulator has made clear its views in its DE&I guidance. There's lots of evidence of strong correlations between diverse corporate boards and good financial results. There's a lot less pensions-specific evidence than you might expect for a roughly £2 trillion industry. However, there is a wealth of research into human group decisionmaking, including "groupthink", and what measures help to improve