The Commercial International Bank (CIB) announced, on Tuesday, that it has been included on the 2021 Bloomberg Gender-Equality Index (GEI).
The Bloomberg GEI is the world’s comprehensive, investment-quality data source on gender equality at publicly-held companies. The 2021 Index includes 380 global companies spanning 11 sectors, representing 44 countries and regions.
Collectively, the listed companies have a combined market capitalisation of $14trn. When it was initially named in 2019, CIB was the first Arab and African company to be listed on the GEI, making this year’s inclusion the bank’s third consecutive inclusion on the list
“As a leader in responsible banking, we pride ourselves in the long commitment to gender equality within CIB and the communities in which we operate,” said Dr Dalia Abdel Kader, Chief Sustainability Officer at CIB, “Fairness and equality are integral to our business practices, policies, culture, and ultimately our success as a bank, and we are honoured to contribute to Bloomberg’s efforts towards creating a new standard of transparency.”
Peter Grauer, Chairperson at Bloomberg, said, “As companies continue to grapple with the novel coronavirus (COVID-19) pandemic, the ‘S’ in environmental, social, governance (ESG) data has become more important than ever before.”
He added, “Companies that provide an inclusive environment supporting work-life balance and flexible work arrangements will eventually succeed in retaining a talented workforce, and gain a competitive advantage in a business environment that has been significantly altered, possibly forever.”
Bloomberg’s scoring methodology measures a company’s female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and a pro-women brand. As investor demand for ESG products increases, the GEI represents an important opportunity for companies to attract new capital and widen their investor base.