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24 September, 2020

One year after launch: what impact does the Women in Finance charter have?

  • One year ago, a large group of banks, insurers and other financial institutions signed a charter calling for more gender diversity in the financial sector.
  • The objective? To give equal, fair opportunities to everyone working in the financial sector: men and women.To ensure that the charter did not remain an empty promise, Women in Finance was created. What started as a private initiative has grown into an association that counts all major financial institutions in its ranks.
  • In its first year of operation, Women in Finance organised various activities: from workshops on writing inclusive job postings and measuring the gender pay gap to roundtable discussions on International Women's Day.To measure progress, Women in Finance launched a survey among its members. The results were compiled in a report. This shows that:
    • 37 organisations have now signed the charter. Together they cover 90% of employees in the sector.
    • 88% of those organisations have exposed the glass ceilings within their organisation. The initial target of 75% has thus been exceeded.
    • 96% of the members have implemented an action plan on gender diversity. With this, the target of 60% has been amply exceeded.
    • Women in Finance has had a clear impact: 58% has started an action plan on gender diversity or has strengthened the already existing plan, thanks to Women in Finance.
  • The report can serve as a baseline measurement: where are the signatories today, what progress do they want to make and how will they use the charter to achieve their goals?
  • In order to monitor progress, Women in Finance has the ambition to publish such a report every year from now on.

You can find the complete press release on the Febelfin website (only available in Dutch or French).