Some 380 companies headquartered across 44 countries are included in the 2021 Bloomberg Gender-Equality Index (GEI). For the first time, firms domiciled in Indonesia and Bermuda are reporting gender-related data.
The GEI aims to bring transparency to gender-related practices and policies at publicly-listed companies, increasing the breadth of environmental, social, governance (ESG) data available to investors. At a time when it is critical for firms to demonstrate their commitment to gender equality, the companies included in this year’s index are setting an example for more transparent reporting and disclosure of social data.
“As we continue to grapple with the pandemic, we’ve seen companies put increased emphasis on the ‘S’ in ESG,” says Peter T Grauer, Chairman of Bloomberg. “The companies included in this year’s Gender-Equality Index are committed to providing an inclusive work environment, supporting work-life balance and flexible work arrangements to retain a talented workforce and create a competitive advantage in this changing business environment.”
Despite raising the threshold for inclusion in the 2021 index, a record number of companies disclosed their data, and the quality of disclosure continues to improve. This year, GEI companies had a 94 per cent disclosure score on average. While the average disclosure score was high, the average data excellence score was 55 per cent, making it evident there is still work that needs to be done. The data excellence score is broken down into scores across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand.
“As businesses strive to maintain strong corporate cultures in today’s virtual world, the C-suite has the opportunity to drive progress on gender equality for years to come,” says Patricia Torres, Global Head of Bloomberg Sustainable Finance Solutions at Bloomberg. “This progress can begin with the GEI framework, which helps companies assess where they are on the path to gender parity relative to their peers, and hold themselves accountable to their goals. In turn, the GEI data gives investors a comprehensive view into how these practices are driving increased employee engagement and productivity, bringing higher market value to companies, and creating positive change in local communities.”
