A new index has been launched to track the performance of technology companies in the US that are making the most improvement in terms of gender equality.
The US Women in Technology Index is a partnership between Equileap, a provider of gender equality data, and Indxx, a financial services firm.
The index will allow investors to align their portfolios with their values by tracking the performance of tech companies in the US that are making the most improvement.
The gender equality scores are based on 19 criteria across four categories: gender balance in leadership and workforce, equal compensation and work life balance, policies promoting gender equality, and commitment, transparency and accountability.
A 2023 Gender Equality Global Report, produced by Equileap, shows improvement within the tech sector and with US companies, but slower compared to other sectors and countries.
Diana van Maasdijk, chief executive officer of Equileap, commented: “Once again, it’s clear that investing in women is not just the right thing to do, it’s the financially smart thing to do.
“We believe this index will motivate other tech companies to do better and raise their gender equality game.”
Rahul Sen Sharma, president and co-chief executive officer of Indxx, said: “The consequences of a lack of diversity can be far-reaching, hindering innovation, and limiting an industry’s potential to tackle complex challenges.
“Studies have also shown that companies with greater gender diversity not only boost employee engagement but also tend to perform better financially.”