SINGAPORE, JANUARY 2020, Bloomberg – Singapore Exchange (SGX) has been included in the 2020 Bloomberg Gender-Equality Index (GEI), one of 325 companies across 50 industries in 42 countries and regions. SGX was added in this year’s index for scoring above a global threshold established by Bloomberg to reflect a high level of disclosure of gender-related metrics and overall performance across the GEI framework.
Mr Loh Boon Chye, CEO of SGX, said, “We are gratified to be recognised for our efforts to embrace diversity and opportunities at our workplace and in the community. We are convinced that diversity widens the depth and breadth of our collective skills and perspectives, which drives innovation and leads to better long-term performance. Our female colleagues also help build a stronger culture of mentorship and collaboration in the office. Half of our employees are female while close to 30% hold senior positions. By disclosing our workforce diversity statistics as part of our broader sustainability practices, we hope other companies will be encouraged to do the same.”
“The 325 companies included in the 2020 GEI have shown their commitment to transparency and demonstrated leadership in gender-related data reporting,” said Peter T. Grauer, Chairman of Bloomberg. “Disclosure of company statistics and practices is an important first step in supporting gender equality globally.”
SGX has also been leading in the advocacy for Women on Boards (WOB) in Singapore since 2012. It established a Secretariat for the Council for Board Diversity (CBD), and its predecessor Diversity Action Committee, which focuses on building up women’s participation in the boardroom of SGX-listed companies as well as organisations in the public and non-profit sectors.
Mr Loh, who is Co-Chair of CBD, added, “Singapore has made commendable progress in board gender diversity. Since 2014, the proportion of WOB of the largest 100 companies that are primary-listed on the SGX doubled from 7.5% to 15.7% as at end-June 2019. 27% of SGX’s Board is represented by female directors, which is higher than CBD’s target of 20% and highest in the financial sector among the top 100 Singapore-listed companies. SGX will continue to promote WOB as an important part of corporate governance and performance.”
SGX joins four other Singapore-listed companies – City Developments (CDL), DBS Group Holdings, SingTel and United Overseas Bank (UOB) – in this year’s GEI. 47 out of the 325 companies are from the Asia-Pacific region.
The GEI tracks the financial performance of public companies committed to supporting gender equality through policy development, representation, and transparency. The reference index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand.
The GEI expanded in 2020 to include firms headquartered in the Czech Republic, New Zealand, Norway, Philippines, Poland, and Russia for the first time. Companies range from a variety of industries, including automotive, banking, consumer services, engineering and construction, and retail.