News and information company Bloomberg has opened data submissions for its 2023 Gender Equality Index (GEI), a reference index that reflects the financial performance of public companies that have demonstrated their commitment to gender equality in the workplace.
Participating companies are able to disclose their initiatives towards gender equality according to five key pillars: leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies and external brand. Companies answer questions relating to key themes, such as pipeline management, company benefits and pay gap metrics. Over 550 companies participated in 2022.
Each year, the framework evolves to track social impacts on companies’ priorities for diversity and inclusion. In the 2023 framework, additional exploratory questions were added to capture more data on intersectionality factors like race, ethnicity and sexual orientation.
Companies use the GEI as a resource for stakeholders and investors to view their past performance, as well as benchmarking the case for further corporate investments in inclusiveness. All participating companies receive a comprehensive scorecard to appraise their progress.
“Investors are demanding that companies make real progress towards a more equitable and fair approach to their operations and workforce,” says Patricia Torres, global head of sustainable finance solutions at Bloomberg. “Our GEI reporting framework provides companies with a clear way to document and demonstrate their improvements in diversity and inclusion.”