News: Dr Reddy's Lab makes it to the Gender Equality Index


Dr Reddy's Lab makes it to the Gender Equality Index

The Bloombergs Gender Equality Index 2018 has 19 APAC companies listed in total, out of which Dr Reddy's Laboratories is the only Indian company that made it to the list. Two Singapore companies DBS Group Holdings and City Developments Limited (CDL) are also part of this years list. Read on to know a few more interesting highlights of the latest index.
Dr Reddy's Lab makes it to the Gender Equality Index

A total of 19 APAC companies are listed in this year's Gender-Equality Index by Bloomberg and Dr Reddy's Laboratories is the only Indian company and the only healthcare company in APAC to make it to this list. Singapore companies made up a third of the six Asian companies, among which are DBS Group Holdings and City Developments Limited (CDL).

Archana Bhaskar, CHRO, Dr. Reddy’s Laboratories said, “Becoming a member of Bloomberg’s Gender Equality Index is a matter of great pride for us. I see our inclusion in this index as yet another validation of our commitment to diversity and inclusion at Dr. Reddy’s. We would like to see more Indian companies join us in this endeavor to further the agenda of gender diversity.”

The 2018 Gender-Equality Index by Bloomberg has expanded globally and now a total of 104 companies are listed as its members. The 2017 BFGEI included 52 financial firms, headquartered in 17 countries and regions and now it represents 24 countries and regions, including firms headquartered in Belgium, Chile, Greece, Ireland, Italy, Singapore and Taiwan for the first time. Companies range from a variety of sectors, including communications, consumer staples, energy, financials, materials, and technology. It is interesting to note that 65 percent of the members are signatories to or members of organizations advocating for gender equality. 

 "We commend the 104 companies included in the 2018 GEI for their efforts to create work environments that support gender equality across a diverse range of industries," said Peter T. Grauer, Chairman of Bloomberg and Founding Chairman of the U.S. 30% Club. "Their leadership sets an important example that will help all organizations innovate and navigate the growing demand for diverse and inclusive workplaces."

Another key highlight of the reference index launched today is that 2018 GEI members have a 26.2% representation on boards, compared to an average of 12.7% in the ESG universe of coverage. Interestingly, women in GEI member firms hold 26% of senior leadership positions, 19% of executive officer roles, and earned 46% of promotions in 2016. The index also suggests that the percentage of executive level positions held by women in GEI member firms increased 33.5% from the fiscal year 2014 to 2016. 

Sheri Bronstein, Global HR Executive at Bank of America shares that they are continuously investing in acquiring and developing female talent so that they can continue to advance as leaders in the company, and in the communities they serve.  She said, “The diversity of our company - women make up more than 50% of our global workforce, more than 40% of our global managers, more than 40% of our global management team and more than 35% of our board of directors – makes us a stronger company.”

Kiersten Barnet, Deputy Chief of Staff to the Chairman at Bloomberg believes that more data and greater transparency will allow investors to make better-informed decisions and help companies better understand their own progress towards gender equality.

Accenture, AIA Group, American Express, MetLife, Sodexo and Standard Chartered are some of the names in the 104 member list of Bloomberg’s Gender Equality Index. 

Click here to read the full report. 

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Topics: Diversity

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