Mar 9th, 2017 | By James Lord | Category: ETF and Index News Canadian investors have been presented with the country’s first index to track locally-listed companies which promote workplace diversity and inclusion by embracing LGBT values. The LGBT Corporate Canadian Index (LGBT CCI) may serve as the underlying for future investment products, including ETFs.
Created by the LGBT Corporate Canadian Index Company, the index identifies corporations within the S&P/TSX Composite Index which completed and submitted the LGBT CCI 2016 Survey and received a passing grade in the questionnaire-based scoring system.
The survey seeks to identify companies which demonstrate their commitment to LGBT inclusion by determining whether firms have a policy of non-discrimination based on sexual orientation and gender expression, whether they promote LGBT values through corporate initiatives, whether they offer educational collateral focusing on diversity in the workplace, and whether they have a Chief Diversity Officer.
“The LGBT Corporate Canadian Index is an important and valuable tool for championing the rights of LGBT individuals on a national level,” said Alexis Klein, Founder, LGBT Corporate Canadian Index Company. “It’s very encouraging to see that corporations included in the index represent a wide spectrum of industries and sectors, ranging from financial services and communication services to aerospace defence, consumer cyclical, industrial products and many more. Going forward, LGBT CCI will be released annually, in March, to the general public.”
LGBT CCI provides transparency around best practices as it pertains to corporate policies and corporate advocacy. It serves leading and supporting corporations to actively promote LGBT inclusion as part of their key initiatives and be an integral part of the way forward.
Anders Jacobsen, co-founder of LGBT Capital and Advisor to the LGBT Diversity Fund, commented: “We applaud the introduction of an LGBT screen and index for Canada. The increasing level of awareness among corporations and lawmakers for the business case for LGBT Diversity & Inclusion is key to the fight for greater freedoms and equality for the LGBT community globally. Indices such as LGBT CCI allow companies that implement effective LGBT Diversity & Inclusion programmes to be considered by value driven investors seeking LGBT friendly policies and behaviour in their stock holdings.”