The number and diversity of companies that have applied to be included in the 2023 Bloomberg Gender-Equality Index (GEI) has risen sharply ahead of the 30 September deadline, Bloomberg has announced.
Many publicly traded companies are voluntarily participating in the GEI, which analyses the performance of their diversity and equality policies compared to their peers. The 2022 GEI listing included 418 companies from 11 different sectors in 45 countries, as reported. This year, Bloomberg is already seeing an increase in participants and the amount of details being disclosed over last year.
GEI data so far shows that the number of accounts registered has risen 40% in the US, 39% in Europe, Middle East and Africa, 18% in Asia Pacific and 3% in Latin America. New country participants include Colombia, Peru, Uruguay and Pakistan. While financial companies have traditionally led the list, now companies in the aerospace, pharmaceutical and technology sectors are participating.
TRANSPARENCY & PAY PARITY
“We are gratified to see so many more companies use the GEI to identify and strengthen their policies regarding equal pay and gender pay parity,” commented Patricia Torres, Global Head of Bloomberg’s Sustainable Finance Solutions, which includes the GEI. “This transparency helps companies attract employees and gives investors the data they need to make decisions.”
The GEI evaluates companies on five key pillars, including:
- Leadership and Talent Pipeline.
- Equal pay and gender pay parity.
- Inclusive Culture.
- Anti-Sexual Harassment Policies.
- External Brand.
GENDER EQUALITY PROGRAMMES
For the 2023 evaluation, companies asked that Bloomberg add two other areas for exploration — LGBTQ+, race and ethnicity. Disclosure of this data will begin in the US and UK markets; these questions are optional and will not be scored.
“Companies can also use the GEI as an internal worksheet,” Torres added. “They can go online, without obligation, and see what the methodology entails. This is helpful in enhancing their gender-equality programmes.”
Companies participate voluntarily at no cost via the Bloomberg GEI website. The deadline for submission to the 2023 GEI is September 30, 2022. To learn more about the index and how to participate, check out this link.
A record number of companies disclosed data for Bloomberg’s 2022 Gender-Equality Index, demonstrating that firms are increasingly committed to ESG data reporting. Click here to read more.
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