SANTA CLARA, Calif.,
Jan. 27, 2021 /PRNewswire/
-- Silicon Valley Bank (SVB) (Nasdaq: SIVB), the bank of
the world's most innovative companies and their investors, today
announced that it is one of 380 companies across 11 sectors
included in the 2021 Bloomberg Gender-Equality Index (GEI). The GEI
brings transparency to gender-related practices and policies at
publicly listed companies, increasing the breadth of environmental,
social, governance (ESG) data available to investors. The
comprehensive, transparent GEI scoring methodology allows investors
to assess company performance and compare across industry peer
groups.
The reference index measures gender equality across five
pillars: female leadership and talent pipeline, equal pay and
gender pay parity, inclusive culture, sexual harassment policies,
and pro-women brand. Through disclosure of gender-related metrics
using the GEI framework, the firms included in the 2021 GEI have
committed to provide a comprehensive look at their investment in
workplace gender equality and the communities in which they
operate, raising the bar of what should be expected from other
companies within the same industry. Silicon Valley Bank was
included in this year's index for scoring at or above a global
threshold established by Bloomberg to reflect a high level of
disclosure and overall performance across the framework's five
pillars.
"Silicon Valley Bank is committed to advancing gender equality
in our workplace and the innovation economy," said Greg Becker, CEO of Silicon Valley Bank. "This
is not simply a goal but an imperative for our success, that of our
clients and our entire society. Innovation is more important than
ever, and it thrives when people with diverse backgrounds,
experiences, opinions and ideas have access to opportunity."
The GEI expanded in 2021 to represent 44 countries and regions,
including firms headquartered in Indonesia and Bermuda for the first time. Companies range
from a variety of industries, including automotive, banking,
consumer services, engineering and construction, and retail. The
2020 GEI included 325 companies headquartered across 42 countries
and regions. Silicon Valley Bank was also included in the 2019
and 2020 GEI.
"The companies included in the 2021 GEI are expanding the ESG
data universe to include gender-related data that investors are
demanding today," said Peter T.
Grauer, Chairman of Bloomberg. "Their commitment to
disclosure is making the business case for inclusion, and driving
transparency in the markets."
"We are proud to receive this important recognition from
Bloomberg for the third consecutive year," said Angela Morris, Chief Diversity, Equity and
Inclusion Officer at Silicon Valley Bank. "Transparency in
reporting is a key tenet of our corporate diversity, equity and
inclusion work, and this index is a testament to the progress we
have made so far as well as the work we have left to do on our
journey toward achieving gender parity."
Both the framework and the GEI are voluntary and have no
associated costs. The GEI is a reference index and is not for use
as a financial benchmark. The index is not ranked. While all public
companies are encouraged to disclose supplemental gender data for
their company's investment profile on the Bloomberg Terminal, those
that have a market capitalization of USD1
billion are eligible for inclusion in the index. To learn
more please visit the GEI website. Bloomberg Terminal subscribers
can access the GEI at {BGEI <GO>}.
About Silicon Valley Bank
For more than 35 years,
Silicon Valley Bank (SVB) has helped innovative companies and their
investors move bold ideas forward, fast. SVB provides targeted
financial services and expertise through its offices in innovation
centers around the world. With commercial, international and
private banking services, SVB helps address the unique needs of
innovators. Learn more at svb.com.
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SOURCE Silicon Valley Bank