NACFB backs Women in Finance Charter02/08/2018
The NACFB has become the first trade body in the commercial finance sector to sign up to the Treasury’s Women in Finance Charter.
The Treasury announced the NACFB’s inclusion as part of a tranche of a further 67 companies who have signed up to the Charter, which aims to tackle gender inequality in senior roles. The Charter now covers over 760,000 financial services employees in the UK.
The Women in Finance Charter asks firms to commit to four industry actions to prepare their female talent for leadership positions. Research published earlier this year examined over 1000 companies across 12 countries and found that firms in the top quarter for gender diversity are 21pct more likely to enjoy above-average profitability than companies in the bottom quarter. In April, the Business Minister wrote to the executives and chairs of FTSE 350 companies urging them to tackle the lack of women in corporate Britain forming part of the Government’s efforts to address the imbalance.
Since the Charter’s launch, over 85pct of signatories have committed to targets of at least 30pct women in senior roles by 2021 and over 25pct have committed to a 50/50 gender split in senior roles by 2021.
NACFB CEO Graham Toy said of the announcement, “We are delighted to have joined more than 270 companies who have committed to HM Treasury’s Women in Finance Charter. Gender equality and diversity is integral to creating a fairer, more prosperous society. Whilst there’s still some way to go across the wider sector, we are proud to be part of a modern trade Association that is taking steps to be part of the solution.”