Bloomberg, the global business and financial information and news leader, recently announced that SM Investments Corporation is one of the 325 companies across 42 countries and regions that made it to the 2020 Bloomberg Gender-Equality Index (GEI).
The GEI tracks the financial performance of public companies committed to supporting gender equality through policy development, representation, and transparency.
“Year over year, Bloomberg’s gender reporting framework continues to expand the universe of environmental, social and governance (ESG) data available to investors globally by providing more in-depth metrics from a broad range of public companies across 50 industries,” said Peter T. Grauer, Chairman of Bloomberg.
For the first time, firms headquartered in the Philippines as well as in the Czech Republic, New Zealand, Norway, Poland, and Russia are reporting gender-related data.
“This level of transparency into how companies are tackling gender equality in the workplace and their local communities are fueling financial decision-making around the world, and is supporting the business case for an inclusive corporate environment,” the Bloomberg chair said.
Bloomberg expanded the types of metrics included in the GEI framework this year, with companies reporting on information such as the likelihood a woman will remain employed at the firm following parental leave (82%), the availability of on-site lactation rooms (69%), and sponsorship of STEM education programs for women (64%).
Firms included in the index have a combined market capitalization of USD12 trillion, up from USD9 trillion last year.
According to the findings from this year’s index, companies led by a female CEO reported having more women in senior management positions than companies with a male CEO. Female-led organizations also had more women in the top 10% of compensation than male-led firms and more women in revenue-producing roles.
Not only did the 2020 GEI show that companies are focusing on attracting a gender-diverse customer set, but more are evaluating advertising and marketing materials for gender bias than in previous years. Of the companies included in the index, 78% evaluate their marketing materials for bias, up from 68% last year. Further, nearly half (46%) of the firms measure the retention of female customers and 57% track customer satisfaction by gender where applicable.
The GEI measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. The firms included in this year’s index scored at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework’s five pillars.
The GEI’s standardized reporting framework allows investors to compare how companies around the world are investing in women in the workplace, the supply chain, and the communities in which they operate.
Other companies included in the list are, but not limited to Avon Products Inc., AXA Group, Bank of America, Citigroup, Inc., The Coca-Cola Company, General Motors, Intel Corporation, JPMorgan Chase & Co., Procter & Gamble, and Unilever.
For more information, visit Bloomberg.com/company.
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