Bloomberg released its Gender-Equality Index standardized reporting Framework to allow 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. 

Companies take action on diversity and inclusion in the latest Bloomberg’s 2023 Gender-Equality Index. Over 600 companies participated in the Gender Reporting Framework and disclosed their gender-related data, resulting in an 11% increase year-over-year.

“The overarching drive towards equality is evident with the continual increase of global participation from companies. The Bloomberg Gender-Equality Index remains an important resource for companies to identify any gaps and provides actionable steps to further reshape the future of work.”

Peter T. Grauer, Chairman of Bloomberg

GEI participants are scored against five key pillars:

  • leadership and talent pipeline,
  • equal pay and gender pay parity,
  • inclusive culture,
  • anti-sexual harassment policies,
  • external brand.

In addition to the pillars, exploratory questions were included in the Framework, allowing for other areas of the “S” to be explored. These questions, surveyed but not scored, covered other areas such as race and sexual orientation, gender identity and ethnicity.

“This year, GEI members’ disclosure for exploratory questions averaged at 92%, demonstrating collective interest in extending beyond gender inclusion metrics. The GEI continues to identify areas of impact for companies, helping to facilitate meaningful change that, ultimately, will contribute to more innovation, creativity, and higher performance.”

Patricia Torres, Global Head of Bloomberg Sustainable Finance Solutions at Bloomberg

The accompanying 2023 GEI Insights Report helps to illuminate the data cultivated, and provides a general analysis on the current state of social reporting in the corporate space. Key areas include: Intersectionality, flexible work and employee engagement.

Bloomberg Gender-Equality Index

Representation Matters

For GEI members, companies led by women have higher representation of women at all levels.  GEI Member companies with greater than 30% women representation on the board have, on average, 27% of women executives within the corporation, as compared to 20% of women executives in firms with less than 30% of women on the board.

“Gender diversity is not an option but indispensable, which is a matter of equality. Gender diversity will be the driving force for sustainable development beyond the value of equality.”

Kim Sung-tae, CEO at Industrial Bank of Korea

Bloomberg Gender-Equality Index

Holding Leadership Accountable

Another theme amongst member companies is the integration of diversity policies in executive evaluations. This year, 64% of GEI members have implemented diversity and inclusion goals for managers in performance reviews, an 8-point increase from last year. Additionally, 86% of members offer unconscious bias training, with 74% of those companies tracking manager completion.

“We cannot underscore the importance of leadership enough when looking to improve gender equality in the workplace. Change can only be driven when diversity and inclusion are part of executive performance metrics.”

Patricia Torres, Global Head of Bloomberg Sustainable Finance Solutions at Bloomberg

Access the list of companies included in the 2023 Bloomberg Gender-Equality Index.

Source: Bloomberg