Over 100 companies spanning 24 countries and 10 sectors have joined Bloomberg’s inaugural Gender-Equality Index (GEI), a reference index measuring gender equality across internal company statistics, employee policies, external community support and engagement, and gender-conscious product offerings.
As investors increasingly seek out information about companies’ environmental, social and governance performance, Bloomberg’s GEI allows investors to compare corporate commitments to gender equality across industries. The GEI complements Bloomberg’s existing ESG offering on the Terminal and provides investors with comprehensive insight on standardized gender equality data points.
“More data and greater transparency in this space will allow investors to make better-informed decisions and help companies better understand their own progress towards gender equality,” said Kiersten Barnet, Deputy Chief of Staff to the Chairman at Bloomberg.
The role of business in the social justice and equity movement
Hear more from some of the organizations, large and small, that are taking authentic action and making long-term, systemic commitments to creating diverse, equitable workforces at Just Brands '21 — May 6-7.
According to data collected from this year’s GEI firms, women hold 26 percent of senior leadership positions and 19 percent of executive officer roles, and earned 46 percent of promotions in 2016. Between fiscal years 2014-2016, the number of executive level positions held by women increased 33.5 percent. 65 percent of members are also signatories to or members of organizations advocating for gender equality.
What’s more, 67 percent of companies listed on the 2018 GEI evaluate all advertising and marketing content for gender biases prior to publication.
“Gender equality and full respect for each individual are absolutely integral to our company values,” said Fabrizio Freda, President and CEO of The Estée Lauder Companies. “Our inclusive culture encourages advocacy, openness and appreciation of our employees’ individuality, which in turn elevates our collective creativity and innovation in meeting the needs of our global consumers through our products and high-touch service.”
“The diversity of our company — women make up more than 50 percent of our global workforce, more than 40 percent of our global managers, more than 40 percent of our global management team and more than 35 percent of our board of directors — makes us a stronger company,” said Sheri Bronstein, Global HR Executive at Bank of America. “We are continuing to invest in acquiring and developing our female talent so they can continue to advance as leaders in our company, and in the communities they serve.”
Firms interested in participating in the GEI submitted a social survey created by Bloomberg in partnership with third-party experts Catalyst, Women’s World Banking, Working Mother Media, National Women’s Law Center, and National Partnership for Women & Families. Those included on this year’s index scored at or above a global threshold established by Bloomberg to reflect disclosure and the achievement or adoption of best-in-class statistics and policies.
“We commend the 104 companies included in the 2018 GEI for their efforts to create work environments that support gender equality across a diverse range of industries,” said Peter T. Grauer, Chairman of Bloomberg and Founding Chairman of the US 30% Club. “Their leadership sets an important example that will help all organizations innovate and navigate the growing demand for diverse and inclusive workplaces.”
The sector-neutral Bloomberg GEI follows the release of the Bloomberg Financial Services Gender-Equality Index (BFGEI) launched in 2016. The 2017 BFGEI included 52 financial firms, headquartered in 17 countries and regions.
Companies interested in joining next year’s index should visit Bloomberg.com/professional/sustainable-finance.