CaixaBank, Spain’s leading retail bank, has taken another step in its commitment to gender equality by joining the international Target Gender Equality (TGE) programme promoted by the United Nations Global Compact, which aims to increase female representation on company boards of directors and in executive management positions.
As a member of this programme, the bank, led by chairman Jordi Gual and with Gonzalo Gortázar as its chief executive officer, has committed to continue to evaluate its performance in the field of gender equality, to set ambitious company targets and to adopt measures to address barriers to gender equality.
Currently, CaixaBank's managerial positions have a ratio of 41.3% women, and women make up 40% of its Board of Directors, one of the highest percentages in the sector. It has also committed to keep progressing in this respect and to reach a ratio of 43% of women in management positions in 2021.
The United Nations Global Compact has launched the programme in 19 countries, with over 170 companies currently participating. In Spain, where 37 organisations have signed up, the programme is led by the Spanish Network of the Global Compact and has the support of the Spanish Government’s Institute of for Women and the CEOE as members of the Coalition of Experts.
Accelerating progress on gender equality
The programme was born out of the need to accelerate progress in the field of gender equality in business. Target Gender Equality calls upon all companies and organisations of the Global Compact to implement measures aimed at promoting gender equality at all levels and in all areas of activity.
During the programme, participating companies will be given support in setting and achieving ambitious targets in terms of women's representation and leadership at all levels through performance analysis , skill development workshops, learning between equals and dialogue with multiple stakeholders at a national and international level.
Participating companies will also have access to research, the network of members and experts, high-level events and the WEP Gender Gap Analysis tool, an online platform that helps companies assess their current policies and programmes.
CaixaBank, committed to diversity
CaixaBank adheres to the Women’s Empowerment Principles of the United Nations; to the voluntary agreement with the Ministry of Health, Social Services and Equality, 'More women, better businesses', seeking better representation of women in management positions; and to the Diversity Charter, promoting equal opportunities and anti-discriminatory measures.
The bank has also received various distinctions such as its inclusion in the international 2020 Bloomberg Gender-Equality Index, certification from the Másfamilia Foundation as a Family Responsible Company, and it has received various accolades, such as the 25th Anniversary Award of the FEDEPE (Spanish Federation of Female Directors, Executives, Professionals and Entrepreneurs). It also features on the EWoB Gender Diversity Index.
Among CaixaBank's initiatives in the field of equality, one of the most noteworthy is the Wengage diversity programme. This is a cross-disciplinary project developed by people from all areas of CaixaBank, based on meritocracy and promoting equal opportunities, which works to promote and achieve gender, ability and generational diversity. Wengage includes internal measures to promote flexibility and work-life balance, training and female mentoring plans, through which managers of the company help other professionals to develop their careers.
In 2020, CaixaBank has also negotiated an Equality Plan with union representatives, which includes measures such as promoting the value of diversity and policies relating to equality and work-life balance among the workforce, promoting efficient management of time and meetings, promoting a non-sexist communication model, including gender perspective in selection processes and promoting the principles of respect and equal opportunities. Furthermore, people taking on management roles are encouraged to take advantage of measures aimed at promoting a better work-life balance.
Externally, CaixaBank's commitment to diversity includes promoting debate and public conversation around diversity (eWoman workshops and CaixaBank Talks); organising various awards and recognitions for business leadership (Businesswoman Award) and academic excellence (WONNOW Awards); new women's mentoring initiatives with the international Vital Voices foundation and actions linked to sport (sponsorship of the women's national basketball and football teams).
