Six hundred twenty companies applied to be certified in the Bloomberg gender equality index. Only 484 met the threshold to be included in the index
Grauer: “As encouraging as it is to see more companies worldwide demonstrating their commitment to inclusion, we are still far from making gender equality a global corporate standard.”
Investing by applying the gender equality filter pays off. According to Bloomberg Intelligence, overhauling data-related metrics, such as gender quotas on board directors, results in less volatility, suggesting how this strategy can reduce risk and offer protection from market declines. But although a growing number of companies are ready to demonstrate their commitment to inclusion today, for Peter T. Grauer (president of Bloomberg and founder of the U.S. 30% Club), we are still a long way from making gender equality a global corporate standard.
Bloomberg gender equality index: the sample
This year 620 companies applied to be certified by the Bloomberg gender equality index, the index that annually measures companies’ commitment to promoting and supporting gender policies within themselves and the communities in which they operate based on five pillars: women’s leadership and talent promotion; equal pay; inclusive culture; anti-sexual harassment policies; and brand reputation. That number is up from the previous edition (+11 percent), thanks mainly to the Asian and Oceanic nations bordering the Pacific, which saw 21 new companies participate in the analysis.
484 companies pass the gender parity test
Of these, 484 met the threshold to be included in the index, or 16 percent more than last year. These are companies from 45 countries and regions, 11 sectors, and 54 industries, which achieved an average disclosure score of 93 percent, with peaks of 96 percent for the energy sector and 95 percent for real estate, up to 97 percent for Latin America when looking at geographic distribution. Leading the overall gender parity rankings, however, are the financial, utilities, and communications sectors (with an overall average score of 74 percent). Looking at the individual pillars, the healthcare sector scored highest in terms of women’s leadership (63 percent), energy wins on equal pay (73 percent), and the communications sector scored highest in terms of inclusive culture (81 percent). In comparison, materials and consumer goods scored highest regarding policies against sexual harassment (75 percent) and brand reputation (63 percent), respectively.
22 Italian companies in Bloomberg’s index
22 Italian companies have earned a place in the Bloomberg gender equality index 2023: A2A, Acea, Banca Mediolanum, Banco Bpm, Enel, Eni, Erg, FinecoBank, Hera, Iberdrola, Infrastrutture Wireless Italiane, Intesa Sanpaolo, Iren, Leonardo, Mediobanca, Poste Italiane, Saipem, Snam, STMicroelectronics NV, Telecom Italia, Terna – National Electricity Grid, and UniCredit. Seven belong to the financial sector, among the most represented within the index. For Intesa Sanpaolo, this is the sixth consecutive annual appointment; for Mediobanca, the fifth consecutive year; for Poste Italiane, the fourth successive year. Finally, the first entry for Banca Mediolanum.
“As companies continue to grapple with the pandemic, the social S of Esg has become more important than ever,” Grauer explains. “Through promoting greater work-life balance and implementing flexible work arrangements, companies committed to maintaining an inclusive environment will successfully retain their most talented employees. This represents a long-term advantage against competitors.” Then he concludes, “The Bloomberg gender equality index increases visibility into a previously opaque area of companies’ ESG reporting. And investors are taking notice. As encouraging as it is to see more companies worldwide demonstrating their commitment to inclusion, we are still far from making gender equality a global corporate standard.”
