Silicon Valley Bank Included in 2021 Bloomberg Gender-Equality Index
SANTA CLARA, Calif., Jan. 27, 2021 /PRNewswire/ -- Silicon Valley Bank (SVB) (Nasdaq: SIVB), the bank of the world's most innovative companies and their investors, today announced that it is one of 380 companies across 11 sectors included in the 2021 Bloomberg Gender-Equality Index (GEI). The GEI brings transparency to gender-related practices and policies at publicly listed companies, increasing the breadth of environmental, social, governance (ESG) data available to investors. The comprehensive, transparent GEI scoring methodology allows investors to assess company performance and compare across industry peer groups.
The reference index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand. Through disclosure of gender-related metrics using the GEI framework, the firms included in the 2021 GEI have committed to provide a comprehensive look at their investment in workplace gender equality and the communities in which they operate, raising the bar of what should be expected from other companies within the same industry. Silicon Valley Bank was included in this year's index for scoring at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework's five pillars.
"Silicon Valley Bank is committed to advancing gender equality in our workplace and the innovation economy," said Greg Becker, CEO of Silicon Valley Bank. "This is not simply a goal but an imperative for our success, that of our clients and our entire society. Innovation is more important than ever, and it thrives when people with diverse backgrounds, experiences, opinions and ideas have access to opportunity."
The GEI expanded in 2021 to represent 44 countries and regions, including firms headquartered in Indonesia and Bermuda for the first time. Companies range from a variety of industries, including automotive, banking, consumer services, engineering and construction, and retail. The 2020 GEI included 325 companies headquartered across 42 countries and regions. Silicon Valley Bank was also included in the 2019 and 2020 GEI.
"The companies included in the 2021 GEI are expanding the ESG data universe to include gender-related data that investors are demanding today," said Peter T. Grauer, Chairman of Bloomberg. "Their commitment to disclosure is making the business case for inclusion, and driving transparency in the markets."
"We are proud to receive this important recognition from Bloomberg for the third consecutive year," said Angela Morris, Chief Diversity, Equity and Inclusion Officer at Silicon Valley Bank. "Transparency in reporting is a key tenet of our corporate diversity, equity and inclusion work, and this index is a testament to the progress we have made so far as well as the work we have left to do on our journey toward achieving gender parity."
Both the framework and the GEI are voluntary and have no associated costs. The GEI is a reference index and is not for use as a financial benchmark. The index is not ranked. While all public companies are encouraged to disclose supplemental gender data for their company's investment profile on the Bloomberg Terminal, those that have a market capitalization of USD1 billion are eligible for inclusion in the index. To learn more please visit the GEI website. Bloomberg Terminal subscribers can access the GEI at {BGEI } .
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
SOURCE Silicon Valley Bank
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