On 24 February, CFA Institute released a comprehensive, voluntary DEI Code in the United States and Canada. The DEI Code includes six principles, which, when adopted, will drive greater DEI efforts in a meaningful and measurable way. Read on to learn more about the code and access marketing materials to help your society promote the code.
This release, nearly two years in development, follows efforts to solicit comment letters, gather feedback on the exposure draft, consult with experts, and implement feedback.
The DEI Code aims to foster commitment from institutions to DEI action that will lead to greater inclusion of wider viewpoints from the best talent, which will lead to better investment outcomes, help create better working environments, and generate a cycle of positive change for future generations. CFA Institute is the first signatory to the DEI Code.
The Code calls for signatory organizations to commit to six metrics-based Principles, requiring a commitment to:
- Pipeline: Expanding the diverse talent pipeline;
- Talent Acquisition: Designing, implementing, and maintaining inclusive and equitable hiring and onboarding practices;
- Promotion and Retention: Designing, implementing, and maintaining inclusive and equitable promotion and retention practices to reduce barriers to progress;
- Leadership: Using our position and voice to promote DEI and improve DEI outcomes in the investment industry. We will hold ourselves responsible for our firm’s progress;
- Influence: Using our role, position, and voice to promote and increase measurable DEI results in the investment industry;
- Measurement: Measuring and reporting on our progress in driving better DEI results within our firm. We will provide regular reporting on our firm’s DEI metrics to our senior management, our board and CFA Institute.
In addition, signatories commit to accelerating and amplifying the impact of their commitment by making the economic, business, and moral case for diversity, equity, and inclusion. Further, in Canada, signatories commit to implementing the Truth and Reconciliation of Canada Call to Action #92 and to embracing Indigenous reconciliation.
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