Created in partnership with the Helpdesk on Business & Human Rights
COFIDES
Gender Inclusion in the Financial Industry- Related Issues:
- Discrimination,
- Gender Equality
- Due Diligence Stages:
- 1. Policy
- Countries:
- Spain
- Business Sectors:
- Financial Services
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contact@maplecroft.com
COFIDES is a public-private company attached to Spain’s Ministry of that manages State funds.
COFIDES has had a Gender Policy in the workplace and a Protocol on Workplace, Sexual and Gender-Based Harassment since 2015. In 2019 the LGBTI Policy was approved. In 2020, COFIDES signed a commitment to respect the United Nations Standards of Conduct for Business: Tackling Discrimination against LGBTI People. In 2022, COFIDES created an Equality Committee, approved an Equality Plan to guarantee real and effective equality of opportunities between women and men in COFIDES, and joined the Business Network for LGBTI Diversity and Inclusion Association (REDI) and the UN Women’s Empowerment Principles (WEPs).
To actualize these commitments and supported by senior executives, COFIDES has taken specific actions including:
- Providing diversity training to give visibility to the LGBTI collective in COFIDES.
- The Equality Committee raises awareness about COFIDES’ actions to strengthen respect for human rights, non-discrimination and support for diversity.
COFIDES celebrated Diversity Month in 2022, with different initiatives including the Rainbow Jumper Day. On February 2023, COFIDES hosted a conference organized by REDI on ‘Diversity and Inclusion in Public Companies’.
In 2023, commemorating LGBTI Pride Day, the company organized the 1st Edition of the COFIDES PRIDE 2023 Awards. Other activities took place such as the distribution of bracelets with the LGBTI flag, a commemorative breakfast, a banner on the corporate website linked to the Madrid Pride website and the design of an email signature with the LGBTI flag.
These diversity measures and activities have enabled a cultural change among its employees, with more than 35% of the staff participating in training activities on equality. It has also established an internal group of over 15 volunteers in the field of Equality and Inclusion and has included these values as essential tenets of COFIDES’ agenda.
COFIDES’ human rights, LGBTI diversity and inclusion efforts have been recognized by the Spanish Ministry of Foreign Affairs, Spanish Ministry of Equality, the European Union and Fundación Diversidad recognized COFIDES as the best institution in terms of diversity in 2023.