Assessing Gender Theme in European Financial Institutions: An Analysis Through a New Interval-Based Composite Indicator.

This study aims to assess gender diversity in sustainability reports. This approach is considered crucial for achieving strategic business goals. Examining information gathered from 68 financial firms listed on the EuroStoxx 600 Banks Index and EuroStoxx 600 Insurance Index between 2019 and 2020, the research assesses compliance with Global Reporting Initiative (GRI) 405 guidelines concerning diversity and equal opportunities. A qualitative-quantitative research method was used. We first assessed gender diversity using content analysis of sustainability reports. Then, we constructed an interval-based composite indicator to understand the disclosure level of gender diversity in international banking and insurance companies. Spain, Netherlands, Great Britain, Ireland, and Norway exhibit the best practices in gender diversity disclosure within the banking and insurance sectors. Furthermore, considering that gender diversity in the financial industry is associated with improved economic and environmental performance, we emphasize the impact of gender diversity on companies long-term success. This paper contributes to the literature on gender diversity and performance measurement in the financial sector by offering a novel perspective on analyzing gender diversity within sustainability reports. It introduces an innovative interval-based Gender Diversity Index on GRI standards, providing a comprehensive tool for measuring gender diversity and informing policy decisions. This study enriches the academic debate on gender diversitys role in enhancing business performance and sustainability in the banking and insurance industries.