Singapore property giant City Developments Ltd (CDL) has been selected for the 2019 Bloomberg Gender-Equality Index (GEI). It was selected in recognition of its commitment to transparency in gender reporting and advancing gender diversity in the workplace.
“In a traditionally male-dominated industry, CDL is honoured to be listed on the GEI for the second consecutive year,” says Sherman Kwek, CDL group CEO. “Our diversity across genders, age groups, cultures and geographies has given us a strong strategic advantage and we will continue to support the professional development of all employees within our Group.”
CDL Group CEO Sherman Kwek (centre) and group general manager Chia Ngiang Hong (fifth from left) with women department heads. Women employees form 70% of CDL’s workforce and 47% of its department heads (Credit: CDL)
GEI is tracked by investors and uses a standardised reporting framework for public companies to disclose information on how they promote equality across different areas based on company statistics, policies, community engagement as well as products and services.
Women employees form 70% of CDL’s workforce and 47% of its department heads. In 2018, the number of women department heads in CDL increased by 60% compared to 2017. CDL established an internal Diversity and Inclusion Task Force in 2017, complementing its CDL’s Women4Green network, a first in Singapore, which inspires and empowers women to create a financially, environmentally and socially sustainable future.
CDL also adopted a formal Board Diversity Policy in 2017. To date, two, or about 30%, of the seven directors on the CDL board are women. This surpasses the Diversity Action Committee (DAC) Singapore’s recommended target of having a 20% woman representation on the boards of Singapore-listed companies by 2020.