Gender equality as a success factor:Telefónica Deutschland / O2 listed in Bloomberg Gender-Equality Index for the second year in a row

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Credits: Telefónica Deutschland
Nicole Gerhardt
Telefónica Deutschland / O2 is one of eleven companies headquartered in Germany to be included in the highly regarded Bloomberg Gender-Equality Index (GEI). It thus provides a good example of the transparent promotion of equal opportunities for women in the workplace, backed up by clear ambitions and key figures. And an international McKinsey & Company study from 2020 shows how important this is for corporate success: companies with high gender diversity are 25 percent more likely to be profitable than average. "Diversity promotes our corporate success. The increasing share of women in management positions leads to a better understanding of customer needs and increases our innovative capacity. The additional female perspective also reduces the risk of making mistakes. I am pleased that our commitment to gender diversity is once again reflected in the Bloomberg GEI. Such a visible sign makes us even more attractive as an employer for women; and thus even in perspective more successful," explains Nicole Gerhardt, Management Board Member for Legal and Corporate Affairs at Telefónica Deutschland.

Telefónica Deutschland / O2 is one of eleven companies in Germany which is listed in the Bloomberg Gender-Equality Index (GEI).
The commitment to diversity and the advancement of women is part of Telefónica / O2's long-term corporate responsibility strategy and is anchored in the Responsible Business Plan with clear ambitions and goals. Thanks to a wide range of corporate programmes, women are given the flexibility and the tools to advance their careers. The company has made significant progress in increasing the proportion of women in leadership positions from just over 23 per cent in 2019 to almost 28 per cent in 2020. With two female board members, the proportion of women on the board is just under 29 per cent. Since 2019, the company has linked bonus schemes to increasing the proportion of women in management positions. Telefónica / O2 is also committed to women externally. The company is active in the "Chefsache" initiative, which campaigns for equal opportunities for women and men under the patronage of Angela Merkel with high-profile support from business, science, media and politics. In addition, the company supports the #SheTransformsIT initiative, which is committed to increasing the presence of women in digitalisation and IT professions.

The GEI framework defines a set of metrics to assess progress in terms of gender diversity at all organisational levels, commitment to gender equality goals, work-life balance and positive influence on women outside of their own organisation. In total, the Bloomberg GEI 2021 includes 380 companies headquartered in 44 countries and regions with a combined market capitalisation of $14 trillion. The GEI looks at the financial performance of listed companies committed to gender equality. It is thus a source of information for investors who look closely at companies' sustainability performance. The company's parent, Telefónica S.A., also strengthened its position in the Bloomberg GEI for the fourth consecutive year.