We have an opportunity to put diversity and inclusion at the forefront of our organisation and our sector, to achieve impact through a cultural change as well as through our investments, demonstrating that diversity isn’t just the right thing to do, it’s also a route to excellence. We can do this through our behaviours, our culture, the support we provide to other organisations, the people we reach in our events and campaigns, our investment decisions and our capital.
The Diversity and Inclusion plan sets out the measures we will take over the next year. We will measure our progress against these action points and report on them in 2020, while also developing an updated plan to keep moving forward. We will work closely with the Diversity Forum to align goals for the future plan.
What we’ve done
- Engaged Inclusive Boards to review our internal approach to diversity and inclusion with recommendations due in Autumn 2020
- Embedded a blind recruitment approach using the Be Applied platform
- Formalised an internal working group at Big Society Capital to drive our plan forward
- Conducted an inclusive language review of internal and external communications.
- Developed our flexible working policy.
- Committed not to take part in all-male panels at events.
- Developed a People Strategy with Diversity and Inclusion as a key focus.
- Signed the Diversity Forum Manifesto.
- Signed the Women in Finance Charter.
- Taken our first associate placement from the 2027 scheme.
Reviewing our investment and portfolio processes, which includes:
- Developing equalities, diversity and inclusion best practice for fund managers in our Building Blocks and DD guides around governance, investment assessment and diligence.
- Asking fund managers to conduct and report an annual gender pay gap review.
- Collecting and publishing fund managers’ gender data such as representation on executive teams and Investment Committees, and the gender pay gap.
- Mandatory reporting of gender data of frontline investees’ CEOs.
- Running diversity training for Investment group and Investment Committee.
What we’ve committed to do
- Closing our gender pay gap.
- Supporting the development of a mentoring scheme for groups experiencing specific barriers to progression (e.g women, BAME groups) across the social impact investment sector.
- Supporting the development of a sector-wide apprenticeship scheme.
- Supporting the reach of social investment to more diverse entrepreneurs.
- Clarifying diversity and inclusion approaches used by fund managers of our treasury portfolio.
- We're proud to be taking part in the 100 black interns scheme, providing internships in the investment management industry, starting in June 2021.
Women in Finance Charter
As a signatory of the Women in Finance Charter, we have made an ongoing commitment maintaining a level of at least 50% women at senior manager level within Big Society Capital. We will also maintain a level of at least 50% of women across the organisations as a whole, and focus on reducing our gender pay gap.
Diversity practices in the social investment sector
In our commitment to bring greater transparency and put diversity and inclusion at the forefront of our sector, we're sharing examples of the equality, diversity and inclusion practices of fund managers in our portfolio and wider sector.