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the demand for this information, undertaken by the Global Reporting Initiative (GRI) and the
International Finance Corporation.
Design/methodology/approach The paper sets out the emerging drivers for reporting on gender
information in sustainability reports. In turn, it argues that sustainability reporters have the potential
to promote gender equality by transparently reporting on their organizations gender-responsive
practices and performance.
Findings Investors are a key stakeholder to companies. There is a growing belief in the investment
world that companies that empower women and encourage gender diversity may outperform those that do
not in the long term. Gender performance is one possible indicator of organizations financial strength.
Research limitations/implications Further research is required to identify if recent
developments increase corporate disclosure and performance reporting on gender equality.
Practical implications The research was qualitative in nature and based on the perceptions of
those attending the gender reporting consultation workshops and involved in the GRI Gender
Working Group.
Social implications Increased awareness of the case for reporting on gender equality could
increase the reporting by companies and stakeholder demands for this information. In addition,
the increased availability of this information could positively influence public policy addressing
existing levels of gender inequality.
Originality/value Stakeholders demand for gender performance information, particularly on the
number of women in management, is growing. Sustainability reporting as the mechanism that many
companies worldwide are using to communicate their other environmental, social, and governance
performance information can also help with communicating an organizations commitment to gender
equality.
Keywords Gender, Equality, Equal opportunities, Business performance, Sustainable development
Paper type General review
Introduction
The integration of gender-related corporate performance information into
a sustainability report can enhance corporate accountability to women (UNIFEM
2009). Transparently communicating this information plays a part in a companys
human rights due diligence process. It allows all interested stakeholders to gain insights
into the impacts of an organizations operations, products and services on both women
and men. At the same time, it helps people to understand how the reporting organization Sustainability Accounting,
exercises its responsibility to respect and contribute to gender equality within the Management and Policy Journal
Vol. 2 No. 1, 2011
societies in which it operates. pp. 139-146
q Emerald Group Publishing Limited
2040-8021
The author would like to thank Carmen Niethammer (IFC). DOI 10.1108/20408021111162164
SAMPJ Corporations have huge scope but a long way to go to positively contribute to gender
2,1 equality in their sphere of influence and control. In 2010 only 13 of the 500 largest
corporations in the world had a female chief executive officer. In the same year, womens
wages still only represented between 70 and 90 percent of mens wages in a majority of
countries. Furthermore, there was found to be a considerable gender gap in labour force
participation at all ages except the early adult years (UN, 2010). Without monitoring and
140 systematically measuring progress on reducing the gender wage gap, or increasing the
participation of women in the workforce and in management, limited progress can be
made towards achieving greater equality in the workforce and in other spheres of society.
This article details the research and consultation process highlighting the demand
for this information, undertaken by the Global Reporting Initiative (GRI) and the
International Finance Corporation (IFC). It sets out the emerging drivers for reporting
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promote and respect gender equality, and improve practices and reporting on gender
information that are underlined as a result of several market developments.
International human rights legal and policy frameworks ratified by governments
around the world have long enshrined gender equality as a globally shared value. They
have also underscored the international commitment to observe and promote equal
rights for women and men. The UN Universal Declaration of Human Rights of 1948,
the Convention on the Elimination of All Forms of Discrimination against Women and
the International Labor Organization core conventions on workers rights all promote
gender equality. Furthermore, gender equality is internationally recognized as being
fundamental to poverty reduction and sustainable development, and is therefore a cross
cutting theme embraced in the Millennium Development Goals (MDGs) (The World
Bank, 2001). It is also the focus of a specific goal, MDG 3, to promote gender equality
and empower women. In turn, it has become a priority for many governments in
their development strategies and policies. This has led many companies to commit
to contribute to this goal, as they recognize the importance of and their role in
achieving sustainable development. As the deadline for the MDGs approaches in 2015,
commitments are no longer enough and stakeholders are pressurising companies to
quantify and report on their contribution towards these goals.
The relevance to business of the role of reporting on human rights, of which gender
equality is an integral part, is also underlined through the developments of a
UN framework on Business and Human Rights. This framework was developed by the
United Nations the Special Representative of the Secretary General on Business and
Human Rights. It recognizes gender as a core component. As part of a companys
responsibility to respect human rights, the practice of considering, responding to and
tracking performance on gender impact, among other human rights impacts, is deemed
to be core to a companys human rights due diligence process (UN, 2008). The drive
towards reporting on gender performance within this framework further supports the
increased expectations of businesses to manage, measure and communicate their
performance against commitment on human rights and other sustainability issues.
The business case for corporate action to promote gender equality and womens
empowerment, and subsequently report on progress achieved, has been further
emphasized with the 2010 launch of the United Nations Development Fund for Women
(UNIFEM) and the United Nations Global Compact (UNGC) Womens Empowerment
Principles. These principles are the result of an international multi-stakeholder
consultation process. They provide a set of considerations to help the companys focus
on key elements integral to promoting gender equality. Building on the work by GRI Embedding
and the IFC on reporting on gender, the seventh principle focuses on transparency, gender
measuring and reporting and calls for adherents to the principles to measure and
publicly report on progress to achieve gender equality (UNIFEM and UNGC, 2010).
To date, 167 CEOs have given their Statement of Support to the Womens
Empowerment Principles, including a commitment to implementing concrete actions
based on these principles and to report on their performance (UN Women, 2011). If they 143
do translate this commitment into practice, the performance reporting may increase
awareness among the management of such companies of the extent inequities that
persist. Stakeholders may also use this data to place pressure on these companies to
account for the disparities between their commitments and results achieved. As the
UN framework on Business and Human Rights gains relevance within business circles,
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it may also serve to reinforce this commitment and practice of gender reporting as
a contribution to the human rights due diligence process.
Companies such as those represented by these 167 CEOs are responding to
stakeholder demands for improved practice and disclosure. Not only because of the legal
and ethical imperatives, but also due to emerging evidence of the financial returns
resulting from improved practices related to gender equality. Research suggests
that organizations with gender diverse senior management tend to perform better
financially (Catalyst, 2007; McKinsey, 2008; Deszo and Ross, 2008). Studies
have indicated that increasing the number of women in management can increase
organizational innovation, cause a fundamental change in the boardroom and enhance
corporate governance (London Business School, 2007; Kramer et al., 2006). Organizations
ability to reduce staff turnover and absenteeism rates has in part been attributed to the
implementation of equality and diversity initiatives (Equality Authority Ireland, 2007). It
is not only within the workplace that businesses are able to gain financially, but also
among consumers. The female economy is said to represent a growth market more than
twice as big as the opportunity of China and India combined (Silverstein and Sayre, 2009).
Investors are a key stakeholder to companies. There is a growing belief in the
investment world that companies that empower women and encourage gender diversity
may outperform those that do not in the long term. Gender performance is one
possible indicator of organizations financial strength. This increased financial market
recognition of the benefits of gender equality has led to the development of investment
funds with gender screens, such as the Pax World Womens Fund[1]. Other investment
funds, such as CalPERS, a pension fund in California in the USA, and Amazone Euro
Fund[2] in Europe, include a gender indicator among their investment criteria. According
to McKinsey (2007), rating agencies have also started to apply gender-related criteria.
Consequently, investors are driving the need for gender performance information,
which they require to inform their decision making. This is adding pressure on
companies to measure, account for, and take responsibility for their gender performance.
Stock exchanges are also demanding similar gender information. Since 28 February
2010, the US Securities Exchange Commission (SEC) has required listed companies
to disclose diversity information. They have to state whether and how a nominating
committee considers diversity characteristics in identifying nominees for director,
if a policy exists, how it is implemented and its effectiveness is assessed (SEC, 2010).
From 1 January 2011, the Australian Stock Exchange (ASX) required all companies
listed on the ASX to disclose their achievements against measurable objectives on
SAMPJ gender. They are also required to report on the proportion of women employees in
2,1 an organization, in senior executive positions and on the board (ASX, 2010). Disclosing
this gender performance information in a sustainability report is an effective
mechanism for organizations to transparently communicate their adherence to these
new and emerging requirements.
Governments are also introducing regulatory responses to gender inequality, such as
144 board diversity quotas in Norway [3], and gender wage gap reporting in the UK[4] (HM
Government, 2010). In the USA, large federal contractors are required by federal agencies
to provide written plans for subcontractor diversity (Orser and Weeks, 2009). This is in
line with the 1994 Federal Acquisition Streamlining Act (Public Law No. 103-355), which
established a goal of five percent for federal contract spending with businesses owned and
managed by women. Even where public reporting is not specifically mandated, it plays a
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Next steps
It is clear that momentum is gathering. Stakeholders demand for gender performance
information, particularly on the number of women in management, is growing.
Sustainability reporting as the mechanism that many companies worldwide are using to
communicate their other environmental, social, and governance performance information
can also help with communicating an organizations commitment to gender equality. It
assists companies to report on the gender context in which it operates, its management
approach and its organizational policies and performance, such as the number of women
on the board and in senior management. As the worlds most widely used sustainability
reporting framework, the GRI Guidelines are ideally suited to enable businesses to
measure progress and analyze how well they integrate gender concerns into their business
operations. It is hoped that reporting organizations will make use of the updated GRI
Guidelines to integrate gender information into their reports. This will enable them to
address their stakeholders data demands, take adequate due diligence with respect to
gender and human rights. It is also hoped that governments will begin to recognise the
benefits that sustainability reporting can have to encourage companies to operationalize Embedding
their commitment to a world of gender equality and sustainable development. gender
A Practitioners Guide: Embedding Gender in Sustainability Reporting is available
for download on line at: www.globalreporting.org/NR/rdonlyres/A98BDFC5-0984-
45D1-A778-39405A81C1CD/3532/GRIIFC_Full_Gender1.pdf
A summary version of the report: www.globalreporting.org/NR/rdonlyres/
A98BDFC5-0984-45D1-A778-39405A81C1CD/3514/GRIIFC_EmbeddingGender_LR.pdf 145
Translated versions of the publication are also available in Chinese, Hindi,
Portuguese and Spanish.
The G3.1 Guidelines are available at: www.globalreporting.org/NR/rdonlyres/
660631D6-2A39-4850-9C04-57436E4768BD/0/G31GuidelinesinclTechnicalProtocol
Final.pdf
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Notes
1. http://paxworld.com/investment-approach/the-benefits-of-esg/social/gender-empowerment/
2. www.ammfinance.com/docs/AmazoneOnePager-en.pdf
3. In Norway, 40 percent of directors on corporate boards are required to be women.
State-owned enterprises had to comply by 2006, and public companies had to satisfy the
requirement beginning in 2008.
4. In the UK, the Equality Act (April 2010) contains a power to require the publication of the
gender pay gap by employers with at least 250 employees but this will only be used if
sufficient progress on voluntary publication is not made by 2013.
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