While the US lags in addressing the gender pay gap and sexual harassment policies, Taiwan, India, and South Korea lead with higher rates of transparency and policy disclosure, reveals data provider Equileap.
Its 2024 Gender Equality Report & Ranking evaluates 1,494 publicly listed companies in 24 emerging markets covering various aspects of gender equality, including parental leave, gender balance, anti-sexual harassment policies, women’s representation in leadership roles, and gender pay gap disclosures.
It reveals that companies in Taiwan, India, and South Korea surpass their US and UK counterparts in gender pay transparency and combating sexual harassment.
In particular, the US falls short in disclosing gender pay information, with only 13 per cent of companies doing so, while India boasts a 100 per cent publication rate. Similarly, 69 per cent of US companies publish anti-sexual harassment policies, trailing behind India (100 per cent), Taiwan (96 per cent), and South Korea (87 per cent).
Despite these disparities, the report also highlights positive aspects, such as Taiwan’s gender balance in the workforce, matching levels seen in the US and the UK. However, challenges persist, with South Korea exhibiting the lowest representation of women on executive teams among emerging markets.
Inaugural report
Diana van Maasdijk, CEO at Equileap, says its inaugural report on gender equality in emerging markets confirms an “ongoing commitment to delivering essential social data to institutional investors”.
“Our findings illuminate an important global market, teeming with financial opportunities and innovation, where companies are demonstrating efforts to advance gender equality. We recognise significant strides with 38 per cent of companies disclosing their gender pay gap, surpassing the 33 per cent rate in developed markets, and with 54 per cent of companies taking a public stand against sexual harassment in the workplace.
“However, the stark reality remains: only 0.9 per cent of these companies have closed their gender pay gap, and gender balance remains low at leadership and workforce levels. Yet, now that the data is available, investors can play a crucial role in promoting gender equality in these vibrant markets. This not only aligns with our dedication to social responsibility but also solidifies our belief in the undeniable link between diversity, equity, and sustainable economic prosperity.”
Equileap has launched its inaugural Gender Equality Report & Ranking for emerging markets, alongside the launch of the Solactive Equileap Emerging Markets Gender Equality Index. Setting a new benchmark for inclusive investing, this index represents a significant milestone in Equileap’s mission to foster gender equality globally, while investors can “align their portfolios with their values, while driving positive social change”.
