The investment industry LGBT+ inclusivity organisation backed by Fidelity, T. Rowe Price, Legal & General Investment Management, St. James's Place and Northern Trust, has launched a tool analysing the industry's inclusion progress.
LGBT Great's Investment Industry Benchmark Tracker (iiBT) will provide analysis of LGBT+ inclusion maturity across individual firms, enabling them to measure, review and track progress.
iiBT will be informed by nine core factors, which are based on internal and external inclusion indicators.
According to LGBT Great, the iiBT will help firms to "identify and amplify specific areas of success while providing sight of the areas that need improvement".
Managing director of the organisation Clare Scott said firms need to apply measures that are "aligned to the industry and underpin organisational business objectives", adding the data could be used to "demonstrate return on investment".
The launch coincides with LGBT Great's first anniversary, following a year of working alongside the likes of Diversity Project, Investment2020, CityHive, NICSA, The Guild of Investment Managers, LGBT Capital, My G Work and The Investment Association.
Managing director of LGBT Great Matt Cameron said the industry is beginning to "open its doors" to LGBT+ talent, adding that demonstrating LGBT+ inclusion provides an opportunity to tackle the sector's "diversity deficit".
Referencing a recent academic study entitled Corporate Sexual Equality and Firm Performance, which concluded that diversity and inclusion based on sexual orientation improves the financial performance of firms, Cameron added: "There is a real opportunity to integrate LGBT+ issues into active portfolio allocation and investment strategies to help drive forward global equality and human rights".
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