Although the threshold for inclusion in the GEI has increased, the member list has grown significantly.
Bloomberg announced that 418 companies representing a combined market capitalization of USD16 Trillion and headquartered in 45 countries and regions are included in the 2022 Bloomberg Gender-Equality Index (GEI). The GEI helps bring transparency to gender-related practices and policies at publicly-listed companies around the world, increasing the breadth and depth of environmental, social, governance (ESG) data available to investors.
A record number of companies disclosed their data for this year’s GEI by using the GEI Framework, an increase of 20% year-over-year. This demonstrates a growing commitment to gender equality and recognition that the global business community can lead the charge for meaningful change by committing to more transparent reporting and disclosure of social data.
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“The changing nature of work due to the pandemic has highlighted the importance of addressing gender equality issues in a rapidly-evolving global workforce,” said Peter T. Grauer, Chairman of Bloomberg. “The Bloomberg Gender-Equality Index recognizes companies that are maintaining a strong focus on providing an inclusive work environment that supports the evolving needs of employees and retains the competitive strengths gained through gender diversity, which is increasingly critical in this challenging business environment.”
The GEI framework scores companies across five key pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and pro-women brand. There are also expanded areas of information requested to support the broader goal of providing more robust ESG data to investors. For example, GEI disclosure data now contributes to Bloomberg’s EEO-1 data including race and ethnicity demographics from U.S. companies that disclose this as part of their reporting requirements to the Equal Employment Opportunity Commission.
In terms of disclosure, the ability to measure, analyze, and track data over time is essential for companies as they develop and implement approaches towards diversity and inclusion. The 2022 GEI Insights Report published today, outlines the breadth and depth of data incorporated in calculating the GEI and illustrates the impact that concerted gender-equality efforts can have in the workplace. Examples include work on corporate governance and culture, as noted in the GEI this year.
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