Back in 2014, only 2 companies in the Fortune 500 included LGBTQ+ people in their definition of diversity, not because they were anti-gay, but for one simple reason: No one had thought to update the policies since they were written. So Out Leadership took up the challenge.
In 2015, Out Leadership published the first-ever LGBTQ+ Inclusive Board Diversity Guidelines for the United States so that any company that wanted to, could change its policy in ten minutes.
Since then, hundreds of companies have changed their policies.
The momentum ultimately led to Out Leadership helping the entire Nasdaq with its board diversity requirement in 2021 they even used Out Leadership’s data, research, and board mapping in their SEC filing. The proposal was fully approved in December 2021 and now requires all 3,300 Nasdaq-listed companies to have LGBTQ-inclusive board diversity. We have since expanded our policies to the UK and Australia.
And now we want to bring the LGBTQ+ board diversity Guidelines to Hong Kong.
As a global standard setter, Hong Kong is uniquely positioned to be a leader in inclusive and sustainable business.
In Hong Kong specifically, where LGBTQ+ rights have been a topic of debate and where there may be cultural or societal barriers to acceptance, implementing diversity guidelines can help break down stereotypes and promote greater understanding and acceptance of LGBTQ+ individuals in the corporate world. It is estimated that Hong Kong had 419,000 people aged 15 years or above in the LGBTQ+ community in 2023, approximately 6% of the total population. Their estimated spending power in 2023 was worth HK$156 billion / US$20 billion.
“LGBTQ+ issues are important to us, our clients, their customers, and their communities. It is about doing the right thing – and for our clients and their businesses, LGBTQ+ equality is non-negotiable. I am thrilled that DLA Piper is working with Out Leadership to create these guidelines. It is exciting to think about how we can help shape our business world for the better.” – Susheela Rivers, Managing Partner, DLA Piper Hong Kong
Check out to the US, UK, and Australia Guidelines below.
Hong Kong Board Diversity Guidelines Sponsor
OutQUORUM Sponsors
Out Leadership Global Sponsors
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