Corporate gender parity has far to go

Feb 09, 2023 View in browser   By Allison Prang THE BIG PICTURE Companies that took part in Bloomberg's Gender Equality Index overall on average performed the best on inclusive culture, but worst on leadership and talent pipeline. | Bloomberg PARITY PUSH – Corporate America is getting closer to gender parity on several fronts but still has a way to go, according to the latest Bloomberg Gender Equality Index. Only 8 percent of companies had a woman chief executive, the survey of nearly 500 companies found, and only 24 percent had women executives who were considered above the senior management level at all. (Both of those metrics rose from last year.) Meanwhile, women comprised 50 percent of entry-level positions. “As encouraging as it is to see more companies around the world showing their commitment to inclusion, we are still far from gender equality being a global corporate standard,” Bloomberg Chairman Peter Grauer said in the report. Companies overall on average scored the best on inclusive culture, followed by anti-sexual harassment policies, equal pay and gender pay parity, external brand and leadership and talent pipeline. The latter increased 2 percent from a year ago, Bloomberg noted. When breaking it down by industry, health care companies had the best average score for leadership and talent pipeline, energy companies were top for equal pay, communications firms scored best for inclusive culture, materials companies on average ranked first for anti-sexual harassment and consumer staples companies led the way on external brand. The financial sector was represented the most heavily in the index. | Bloomberg Sixty-two percent of companies had 30 percent or more women board members, Bloomberg said. Companies with at least 30 percent board representation also tended to have more women in their executive ranks, Bloomberg found. The index’s average score on equal pay and gender parity climbed 3 percent from last year, but at the same time, Bloomberg found that the average mean gender pay gap was twice as large at companies that didn’t have a woman CEO. “Gender-related pay data disclosure is still significantly lagging against other pillars within the Gender Reporting Framework,” Bloomberg said. Seventy percent of a company’s GEI score is based on their data excellence, while 30 percent is based on disclosure. Within the data portion of the score, Bloomberg looked at five components: leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies and external brand. This year’s index saw increased participation from companies, according to Bloomberg, which said 620 companies submitted data, up 11 percent from the year before. Ultimately, 484 met the threshold to be a part of the index, the news and data company said, a year-over-year increase of 16 percent. Dive deeper into the report here.   DOWNLOAD THE POLITICO MOBILE APP: Stay up to speed with the newly updated POLITICO mobile app, featuring timely political news, insights and analysis from the best journalists in the business. The sleek and navigable design offers a convenient way to access POLITICO's scoops and groundbreaking reporting. Don’t miss out on the app you can rely on for the news you need, reimagined. DOWNLOAD FOR iOS– DOWNLOAD FOR ANDROID.     YOU TELL US GAME ON — Welcome to the Long Game, where we tell you about thelatest on efforts to shape our future. We deliver data-driven storytelling, compelling interviews with industry and political leaders, and news Tuesday through Friday to keep you in the loop on sustainability. Team Sustainability is editor Greg Mott, deputy editor Debra Kahn and reporters Jordan Wolman and Allison Prang. Reach us all at gmott@politico.com, dkahn@politico.com, jwolman@politico.com and aprang@politico.com. Want more? Of course you do. Sign up for the Long Game. Four days a week and still free! WHAT WE'RE CLICKING —Leaders in Europe meeting in Brussels Thursday are expected to disagree over how to react to new U.S. environmental subsidies, a move that's mainly a response to the IRA, The Wall Street Journal reports. —The International Energy Agency expects Asia to use half of the world's electricity by 2025 for the first time ever, according to the Associated Press.   LISTEN TO POLITICO'S ENERGY PODCAST: Check out our daily five-minute brief on the latest energy and environmental politics and policy news. Don't miss out on the must-know stories, candid insights, and analysis from POLITICO's energy team. Listen today.       Follow us on Twitter Debra Kahn @debra_kahn Greg Mott @gwmott Jordan Wolman @jordanwolman Allison Prang @AllisonPrang   Follow us

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