Issue #44 Tuesday, 28 May 2024
Welcome to the latest issue of the LGBT Great News Digest, a short briefing on the 5 LGBTQ+ news stories that you need to know about right now. Firstly, remember that 1 June is the start of Global Pride Month! This is a perfect time to celebrate diversity and inclusion, reflect on the progress made towards LGBTQ+ equality, and commit to furthering equity and support within our communities and workplaces. We have lots planned for you over the next month, and if you need any support with engagements or content for Pride, email us for a Pride Toolkit. 1 – Join us with L&G to kick off Pride - 29th May Kicking off Pride! Join us in collaboration with Legal and General for an insightful exploration of allyship, featuring personal interviews, followed by a drink reception! (F2F and Virtual) Register for Allyship Unmasked 2 – Join us in Boston with Natixis Investment Managers – 6th June Empower your colleagues to join us for our Role Models Seminar in partnership with Natixis Investment Managers US on Thursday, 6 June Register for Seeing is Believing 3 – Join us in New York to celebrate Pride and Juneteenth – 12th June Thank you for reading. Watch out for our next Digest issue on Monday, June 10. We wish you all a brilliant week ahead! Best wishes, LGBT Great Team ___ Enjoyed this Digest? Click HERE to provide your feedback.
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| 1. Report finds LGBTQ+ transparent companies perform better |
| An Open for Business report released in 2024 found that the top 25 companies in terms of LGBTQ+ transparency were 2.3 times more profitable than the bottom 25. It also found evidence that LGBTQ+ inclusive companies have better share price performance, higher return on equity, higher market valuations, and stronger cash flows. _____ Our View: These findings corroborate previous literature on the financial benefits of LGBTQ+ Inclusion in businesses. One of the most robust studies conducted by academics in Finland, which analysed 657 publicly traded companies between 2003 and 2016, found that firms with LGBT-friendly policies tend to enjoy higher profitability and higher stock valuations.
Beyond the fundamental human case, the business case for LGBTQ+ inclusion has never been more evident. With ever-increasing literature around the benefits of an LGBTQ+-inclusive culture, it is clear that organisations need to be more LGBTQ+-mature to have the edge over their competitors.
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| 2. Peru classifies trans people as mentally ill |
| On 10 May 2024, Peru’s President Dina Boluarte signed a decree that classified transgender people as “mentally ill”. The list includes “transsexualism”, “gender-identity disorders” and “cross-dressing”. _____ Our View: LGBT Great condemns this decree, which will have a damaging impact on trans people in Peru and around the world.
It is important to note that this decision significantly contrasts public sentiment in Peru, with 2023 figures from Ipsos suggesting that 53% of respondents from Peru were in agreement with having non-binary options on official documents, 54% in support of trans people being able to access bathrooms that match their identities, and a significant 84% supporting specific legal protections for transgender people.
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| 3. New report finds 45% people hide being LGBTQ+ at work |
| On 14 May 2024, a report was released by the EU’s fundamental rights agency, which found that 45% of people hide being LGBTQ+ at work on average in the EU-27 region. Additionally, 1 in 5 respondents, on average, have also faced discrimination in employment when trying to find work. _____ Our View: The report also reveals disproportionate amounts of hardships for trans and gender non-conforming people in the workplace.
These reports are important tools in understanding the highly variable experience that trans and non-binary people, in particular, can face at work. More needs to be done across our industry to ensure we build truly psychologically safe environments for our trans and non-binary colleagues.
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| 4. Liechtenstein legalises same-sex marriage |
| _____ Our View: This landmark decision makes Liechtenstein the 22nd country in Europe to legalise same-sex marriage. In 2023, the Liechtenstein parliament also passed a law granting equal adoption rights to same-sex couples.
This new amendment will push Liechtenstein higher on the ILGA Rainbow Europe list for 2025, wherein it currently stands at number 33.
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| 5. UK drops further in ILGA Europe rankings |
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According to the 2024 ILGA-Europe Rainbow Map, the UK's position on LGBTQ+ rights has continued to decline. The annual report, which assesses legal and policy practices for LGBTQ+ people across 49 European countries, placed the UK at number 16. This marks a drop from 15th last year and a significant fall from the top spot the UK held just eight years ago. _____ Our View: Once again, the UK has slipped further down the ILGA rating in an update that will be very disappointing for the LGBTQ+ community in the UK as we enter into Pride. The ILGA cited "efforts to rewrite guidelines to limit access to trans-specific healthcare" as the reason for the drop. Additionally, the UK's failure to ban conversion therapy is another element that reflects the drop. |
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Disclaimer The information contained in this newsletter is for general information purposes only. The information is provided by LGBT Great and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the newsletter or the information, products, services, or related graphics contained in the newsletter for any purpose. All the quotations in the news are presented as originally published. LGBT Great does not necessarily share the views of the quoted authors and is not responsible for the accuracy of the information or quality of the analysis provided by them. Any reliance you place on such information is therefore strictly at your own risk. |
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