IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, announced today it has received the Assess level of EDGE Certification (Economic Dividends for Gender Equality), joining IDB and other multilateral development banks which are actively fostering gender-equal workplaces. EDGE is the leading business certification for gender equality in the workplace worldwide since 2011.
The EDGE Certification recognizes IDB Invest’s 100% commitment to gender equality. Since IDB Group reorganized its private sector operations in 2016, IDB Invest sought this certification to monitor and benchmark its progress toward achieving workplace gender equality. The certification reflects IDB Invest’s strong gender composition when compared to other international finance institutions regarding the share of women in junior and senior management positions. It also signals IDB Invest’s commitment to promote the EDGE Certification to its clients throughout the region.
“We strive to be as diverse and dynamic as the region we serve,” said IDB Invest CEO, James P. Scriven. “We believe our commitment to gender equality will increase our institution’s performance, making us more client-focused and impactful.”
IDB Invest is making strides to ensure that gender diversity and equality are part of its work and values in its Washington, D.C. headquarters and 26 regional offices. IDB Invest embraces a philosophy of continuous improvement and expects to accelerate this progress by committing to an action plan as part of its certification.
“The IDB Group has signaled to the market the importance of measuring and benchmarking the status of gender equality through the EDGE Certification of its private sector operations around the world,” said Aniela Unguresan, EDGE Certified Co-founder. “The assessment has revealed effective policies and practices, an excellent retention of female talent and leadership with authentic commitment.”
As part of a joint effort to highlight the importance and potential benefits of achieving gender equality in Latin America and the Caribbean, IDB Invest and EDGE have this week published a white paper showing a correlation between companies that rigorously manage gender equality by certifying their efforts and significant gender representation across the talent pipeline. The report analyzes data from 1,640 companies in Latin America and the Caribbean, and for the first time compares four distinct company datasets using research by the IDB, RobecoSAM, Mercer and EDGE.
About IDB Invest
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation. www.idbinvest.org
EDGE is the leading global assessment methodology and business certification standard for gender equality. It measures where organisations stand in terms of gender balance across their pipeline, pay equity, effectiveness of policies and practices to ensure equitable career flows as well as inclusiveness of their culture. Launched at the World Economic Forum in 2011, EDGE Certification has been designed to help companies not only create an optimal workplace for women and men, but also benefit from it. EDGE stands for Economic Dividends for Gender Equality and is distinguished by its rigor and focus on business impact. EDGE assessment methodology was developed by the EDGE Certified Foundation, which continues to act as the guardian of the EDGE methodology and certification standards. Its commercial arm, EDGE Strategy, works with companies to prepare them for the EDGE Certification. EDGE Certification is currently working with more than 170 organizations, in 48 countries and 23 industries. www.edge-cert.org