Genting Singapore is among the latest firms in Asean to join the 2021 Bloomberg Gender-Equality Index.
The group joins other Singapore organisations, City Developments Limited (CDL), DBS Group Holdings, Singapore Exchange Limited (SGX), Singapore Telecommunications (Singtel) and United Overseas Bank Limited (UOB) in the index.
DBS Group Holdings, which is one of the members in the index’s top global quartile in 2021, is the top company in Asean to be included.
The index recognises publicly-listed companies that brings transparency to gender-related data such as practices and policies, and increasing the variety of environmental, social and governance (ESG) data to investors.
The index, in 2021, grew from 325 companies to 380 companies across 44 countries with a total market capitalisation of US$14 trillion ($18.56 trillion).
Key findings from companies in the 2021 index include flexible work environments where 87% of the companies on the index provide flexible working hours, and 85% offer flexible working arrangements.
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Boards in companies in the index comprise 29% women and 61% have a chief diversity officer.
Index member companies are also hiring more women, with 69% having a strategy for recruiting women.
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On the ranking, DBS’s CEO Piyush Gupta says, “To be in the GEI’s top global quartile and recognized as best-in-class for gender equality is an important achievement for us. It attests to our firm commitment to advancing parity across DBS, and our efforts in building a respectful and inclusive workplace that embraces gender, generational and cultural diversity”.
“We believe gender equality is essential to sustainable growth. At DBS, women comprise 50% of our workforce, 40% of our senior management, and run our largest businesses and key functions across the bank,” he adds.
Peter T. Grauer, Chairman of Bloomberg says, “As we continue to grapple with the pandemic, we’ve seen companies put increased emphasis on the ‘S’ in ESG. The companies included in this year’s Gender-Equality Index are committed to providing an inclusive work environment, supporting work-life balance and flexible work arrangements to retain a talented workforce and create a competitive advantage in this changing business environment.”
“The average disclosure score of the 15 companies in Asean is high, outperforming the average disclosure score of the index as a whole. Disclosure is an important component in the GEI as it is the first step towards accountability. The decisions companies make today can drive progress on equality for years to come,” adds Patricia Torres, global head of Bloomberg sustainable finance solutions.
