About My Health Careers Internship MedBlogs Contact us
Medindia LOGIN REGISTER
Advertisement

Gay-Friendly Company Index Introduced by Credit Suisse

by Kathy Jones on October 24, 2013 at 7:57 PM
Font : A-A+

 Gay-Friendly Company Index Introduced by Credit Suisse

The first market index and portfolio based on gay-friendly policies has been launched by Swiss banking giant Credit Suisse.

The LGBT Equality Index ranks companies by how well they respect the rights of employees and other members of the lesbian, gay, bisexual and transgender (LGBT) community.

Advertisement

It currently covers 201 US-based firms, but Credit Suisse said it hoped to expand the index and associated investment portfolio, unveiled Monday in New York, to other countries.

The portfolio is currently only available to US-based private banking clients able to spend a minimum of $250,000 but could be open to smaller investors next year.
Advertisement

Doug Nieters, co-head of the LGBT network of Credit Suisse employees in the United States, told AFP the idea emerged from discussions among the network's members.

"The next step of the discussion, which started about two and a half years ago, was to say, 'Wouldn't it be great to connect the bottom line to pro-LGBT policies?'" he said.

The team commissioned research on the correlation of company performance with their LGBT policies.

The results showed that "if companies do have pro-LGBT policies, they can retain people for longer, people tend to be happier in the job, they tend to be more engaged at work, all those things that lead to more production and a more positive, solid bottom line," said Nieters.

The Credit Suisse gauge uses criteria developed by the US-based Human Rights Campaign's Corporate Equality Index, which gives points for policies ranging from health benefits for LGBT partners to codes of conduct that respect sexual orientation.

To feature on the bank's list, companies must score at least 80 percent on the Corporate Equality Index.

"What we really want to do is show a positive correlation between pro-LGBT policies -- good hiring practices, good health benefits -- and the bottom line," said Nieters.

"Our hope with the index and the portfolio is that companies across America, but eventually also across the globe, will say, 'We see a clear a business case for us to change our model and adopt LGBT friendly policies,'."

Source: AFP
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
News Category
What's New on Medindia
Breast Cancer Awareness Month 2021 - It's time to RISE
First-Ever Successful Pig-To-Human Kidney Transplantation
World Osteoporosis Day 2021 -
View all

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.


Recommended Reading
Religious Gay Marriages Favored by Most Norwegian Bishops
The Church of Norway said that most of Norway's 12 bishops favor religious same-sex marriage but ......
Moldova to Abandon Plans to Ban ‘Gay Propaganda’ for Minors
With one eye on gaining entry into the European Union, the Moldavian government revealed that it ......
Montenegro to Host Another Gay Pride Parade in October Despite Violent Attacks
The Organizers of Gay Pride parade revealed that they will be launching another march in late ......
Foreigners Turn to New Zealand for Gay Marriages
More than 80 homosexuals have turned to New Zealand for their marriage after the law legalizing gay ...

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment. Full Disclaimer

© All Rights Reserved 1997 - 2021

This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use