Detroit, Michigan - General Motors Co. announced that it is one of 230 companies selected for the 2019 Bloomberg Gender-Equality Index (GEI), which distinguishes companies committed to transparency in gender reporting and advancing women’s equality. The index doubled in size from 2018 and includes firms from 10 sectors headquartered across 36 countries and regions. Collectively, these firms have a combined market capitalization of USD9 trillion and employ more than 15 million people, of which 7 million are women, around the world. Thirteen markets are represented for the first time this year and include Argentina, China, Israel and South Africa.
“We are very honored to be included on this distinguished and important list,” said Ken Barrett, global chief diversity officer, General Motors. “We are focused on building a winning culture — one that provides opportunity and an environment that allows each employee to reach their highest potential.”
Bloomberg’s standardized reporting framework offers public companies the opportunity to disclose information on how they promote gender equality across four separate areas – company statistics, policies, community engagement and products and services. Reporting companies that score above a globally-established threshold, based on the extent of disclosures and the achievement of best-in-class statistics and policies, are included in the GEI. Demand for products and services using ESG data has seen a significant increase over the last years, as a growing number of investors are looking to incorporate environmental, social and governance data into their investment decisions. Still, currently only 10 percent of eligible companies are disclosing their workplace gender policies and practices.
“We applaud General Motors and the other 229 firms tracked by the index for their action to measure gender equality through the Bloomberg GEI framework,” said Peter T. Grauer, Chairman of Bloomberg and Founding Chairman of the U.S. 30% Club. “General Motors’ GEI inclusion is a strong indicator to its employees, investors and industry peers alike that it is leading by example to advance ongoing efforts for a truly inclusive workplace.”
Disclosures from firms included in the 2019 GEI provide a wide-ranging and comprehensive look at how companies around the world are investing in women. According to GEI data:
- Women had a 40% increase in executive level positions between fiscal years 2014-2017.
- 60% of firms conduct compensation reviews to identify gender-based variations in pay to close their average 20% pay gap (18% on average in the Americas, Europe, Africa and Middle East regions and 26% in Asia-Pacific).
- 34% have programs in place to recruit women looking to return to work after a career break.
- For U.S. employees, the average number of weeks of fully paid primary leave offered is 13 weeks, and the average number of weeks of fully paid secondary leave offered is 5 weeks.
- 43% of firms cover gender reassignment services in health insurance plans.
- 68% of firms evaluate all advertising and marketing content for gender biases prior to publication.
The Bloomberg gender reporting framework is voluntary and has no associated costs. The GEI is a reference index. All public companies can submit data to Bloomberg. Those with a security listed on a U.S. exchange and a market capitalization of USD1 billion or greater are eligible for index inclusion.
