The launch of Bloomberg Gender-Equality Index (GEI) 2019 was announced. The GEI, which was launched in 2016 to evaluate gender equality practices in the workplace covering the finance sector, now includes 230 companies across 13 sectors. Garanti, once again the only company to be listed in the GEI from Turkey thanks to its successful practices on gender equality, particularly in human resources as well as all its value chain including contributions to its customers and society.
The results for 2019 Bloomberg Gender-Equality Index, which was launched in 2016, have been announced. Garanti Bank is the only company from Turkey selected to the GEI, which includes 230 companies from 13 sectors, across 36 countries and regions. Garanti, which has several practices and initiatives on women’s social and empowerment, has been selected to the index for the third time.
The index, which has doubled in size since 2017, includes companies that collectively have a combined market capitalization of USD 9 trillion and employ more than 15 million people — including 7 million women — around the world.
Bloomberg’s standardized gender reporting framework gives publicly-listed companies the opportunity to disclose information on how they promote gender equality across four distinct areas: company statistics, policies, community engagement and products and services. Reporting companies that score above a globally-established threshold, based on the extent of their disclosures and the achievements in their statistics and policies, are included in the GEI.
In order to be included in the index, HR practices such as training managers on prejudices against women, mentorship to woman executive candidates, gender equality at decision-making positions, having clubs for woman employees, taking measures to ensure equality on promotion processes; as well as criteria including developing products for women, supporting woman entrepreneurs and suppliers, supporting financial literacy of women other than customers and employees and being a signatory to the international gender equality initiatives, are evaluated.
The bank achieving "first"s on Gender Equality
Being included to the GEI for three times in a row, Fuat Erbil, CEO of Garanti Bank, stated: "We are delighted to be the only company from Turkey, once again, listed in an index which includes 230 companies from various sectors worldwide. We are proud to have our successful practices to this day to be recognised and appreciated in the international arena. As you may know, Garanti is the first bank in Turkey to become a signatory to the UN Women’s Empowerment Principles (WEPs). Besides, we have taken several pioneering steps through our practices such as launching the Gender Equality Committee in 2015, Woman Executives Program that aims to increase the ratio of women executives in senior management, our Domestic Violence Platform, motherhood experience project, mentorship program, our fair remuneration policy, training on sub-conscious prejudice and on equality and, of course, holistic woman entrepreneurship program based on women's empowerment principle for economic and social development. Thanks to these practices that continue to expand our impact, we empower women to play a more active role in the business life and decision-making processes and contribute to the economy both within and outside of Garanti Bank.
In 2018, within the scope of foreign borrowing program, we took our efforts a step further by issuing a six-year social bond worth USD 75 million to help finance women entrepreneurs in collaboration with the International Finance Corporation (IFC), a member of World Bank Group.
Our goal has been and will continue to be leading the sector on gender equality, to reach more women and to set an example for other organisations to take action".