The European Investment Bank (EIB) has obtained the EDGE Certification (Economic Dividends for Gender Equality) ‘Assess level’, recognizing the commitments and efforts undertaken by the Bank to reach gender equality in the workplace.
“At the EIB, we believe that achieving gender equality as part of a diverse and inclusive organisation is of vital importance. Our work in this area enables us to offer opportunities for all, and to enhance our business performance as the EU Bank. Being EDGE certified is an acknowledgment of the significant progress we’ve made in embedding diversity in our workplace, as well as recognising our continued commitment to promoting gender equality for the benefit of all," said President of E#IB, Werner Hoyer.
Sustainable business success powered by equality
Based in Switzerland, EDGE is the world’s most rigorous and widely recognized certification of gender equity in the workplace. The EDGE methodology transforms working environments by measuring, accelerating and certifying gender equality.
“At EDGE we know that measurement, transparency, and independent validation are essential ingredients to create a gender equal workplace. They are also not easy. Through this certification, the EIB has reinforced its commitment to sustainable business success powered by gender equality," said Aniela Unguresan, Co-Founder of EDGE.
Meeting EDGE standard of gender pay equity
Results from the analysis, carried out for the certification, showed that the level of gender pay equity at the EIB meets the EDGE standard. EDGE did not find any statistically significant pay gap between men and women. As part of the comprehensive assessment, the EIB also invited its entire staff to participate in an Employee Survey. The overwhelming majority (more than 80%) of respondents agreed that gender equality is important for the organisation to fulfil its mission, reflecting the EIB’s overall commitment to the goal.
“As a result of this first EDGE assessment, the EIB will continue its efforts to move to the next EDGE certification level, with further strong commitments to full gender equality. These include continuous and proactive pay equity management by running annual pay gap analyses, as well as a commitment to continuously monitor progress towards the Bank’s targets on gender in terms of hiring, promotion and retention rates. The EDGE Assess seal is an important recognition of the work we do to further enhance gender equality at the EIB and something we can all be proud of," says Maj Theander, Head of Personnel.
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Disclosure: Where Women Work researches and publishes insightful evidence about how its paid member organizations support women's equality.