Nestlé, L’Oréal among 484 companies on 2023 Bloomberg Gender-Equality Index

01 / 02 / 2023

By Marwa Nassar - -

Nestlé and L’Oréal are among 484 companies from 45 countries and regions on the 2023 Bloomberg Gender-Equality Index (GEI).

The Gender-Equality Index (GEI) is a modified market capitalization-weighted index that aims to track the performance of public companies committed to transparency in gender-data reporting.

By publicly releasing detailed, consistent and comparable gender-related data, the companies included in the Bloomberg Gender-Equality Index are setting a new standard for data reporting.

The breadth of GEI member data is made available to the investment community on the Bloomberg Terminal. It includes disclosure by more than 600 companies, across developing and developed markets, and with depth that far surpasses the total data points made available by other providers.

“Gender diversity is not an option but indispensable, which is a matter of equality. IBK is creating an inclusive culture where everyone can demonstrate their capabilities and develop. Gender diversity will be the driving force for sustainable development beyond the value of equality,” said Kim Sung-tae, CEO of the Industrial Bank of Korea.

Acceptance into the GEI supports members’ focus on women empowerment, and showcases their commitment to gender equality in the workplace. It also provides the investment community with the transparency they seek in quantifying the ‘S’ in ESG.

Nestlé recognized on GEI for 5^th straight year:

Nestlé has been recognized in the 2023 GEI for the 5th consecutive year. The company scored 78.5%, above the average index score of 73%.

“We are pleased our efforts to advance gender balance in our workforce and empower women across our value chain have been recognized once again. We strongly believe that taking action to ensure women’s equal participation in society is not only the right thing to do; it also supports better decision-making, founded on a more inclusive culture that enhances innovation and increases job satisfaction among employees. Gender equity is an ongoing journey. We will continue to prioritize it across our business on the path to gender parity,” said Béatrice Guillaume-Grabisch, Head of Group Human Resources and Global Business Services.

Nestlé is accelerating efforts to advance gender balance in the company, and continues to put policies, initiatives, and projects in place to build a more diverse, equitable and inclusive workforce and culture. Currently, 45% of its managerial positions are held by women and the company continues to work toward gender parity at all management levels.

Nestlé has also committed to increase the number of women in its top 200+ senior executive positions to 30% by end-2022. It will report progress on this goal in its Creating Shared Value and Sustainability Report 2022.

The company is also promoting gender equity within its supply chain, particularly in the agricultural communities it sources from.

L’Oréal recognized on GEI for 6^th straight year:

For the sixth consecutive year, L’Oréal Group was recognized by Bloomberg Gender-Equality Index (GEI) 2023 for having successfully created an inclusive and equal work environment.

Nicolas Hieronimus, Chief Executive Officer for the L’Oréal Group,said “We are honored to be recognized in the 2023 Bloomberg Gender-Equality Index. This recognition that we have received for six years running is testament to our inclusive, people-driven culture. At L’Oréal, we strive to maintain a fair and dynamic work environment where people of all genders can thrive, feel empowered and make an impact.”

Margaret Johnston-Clarke, Global Chief Diversity, Equity & Inclusion Officer for the L’Oréal Group, said: “Empowering all genders, strengthening an inclusive culture, offering comprehensive support to parents, and offering special training to women in leadership positions is cornerstone to our vision that a thriving and inclusive culture is a key competitive advantage.”

“Congratulations to the companies that are included in the 2023 GEI,” said Peter T. Grauer, Chairman of Bloomberg and Founding Chairman of the U.S. 30% Club. “We continue to see an increase in both interest and membership globally, reflecting a shared goal of transparency in gender-related metrics.”

The GEI is vital for achieving the Sustainable Development Goals.