Issue #27 Monday, 18 September 2023
Dear Subscriber,
Welcome to the latest issue of the LGBT Great News Digest, a short briefing on the 5 LGBTQ+ news stories you need to know about right now. Firstly, here are a few LGBT Great updates for you:
1 - The Launch of the 2023 Top 50 LGBTQ+ Gamechangers
This inspiring initiative recognises and celebrates employees across the Financial and Professional Services industry who are doing proud work to increase LGBTQ+ visibility in their organisation. The 2023 Top 50 LGBTQ+ Gamechangers was announced last week in partnership with our incredible Membership Community. Meet the incredible 2023 recipients here.
2 - Investing with Pride: LGBTQ+ Lens Investing Think Tank
Apply to join this member-only event in person in partnership with Janus Henderson Investors. This inspiring think tank will bring together Professional Investors and ESG Professionals to build a vision for the future and consider the steps required to succeed. Register here.
Best wishes, LGBT Great Team ___ Enjoyed this Digest? Click HERE to provide your feedback. |
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| 1. New research shows evidence of a rainbow ceiling for LGBTQ+ CEOs |
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On 23 August 2023, a new research paper published in International Finance and Business presented evidence for the "rainbow ceiling", outlining that the stocks of firms led by LGBT CEOs consistently outperformed the market by 0.69–1.08% every month but that investors continue to "discriminate" and undervalue these organisations. _____ Our View: The conclusion that a portfolio of LGBTQ+ led firms is a attractive both from "selfish and social" lens has wide-reaching implications. We know that an LGBTQ+ lens to investment strategies remains nascent and, in many instances, non-existent. Our hope is that this data supports stakeholders across the investment industry to seriously re-evaluate their approaches, assumptions and sensitivities towards LGBTQ+ sustainable and impact investing. |
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| 2. Report finds swift access to transgender healthcare saves lives |
| On 8 September 2023, the University of Melbourne published a studywhich found that fast access to testosterone therapy for transgender adults led to a significant reduction in the incidence rates of depression, suicidal ideation, and gender dysphoria. The trial included 62 trans adults, aged between 18-70, who were seeking initiation of testosterone. _____ Our View: This study marks one of the first instances of randomly controlled trials (the gold standard approach for this kind of research) being utilised to compare health outcomes on hormone therapy for trans and non-binary folks longitudinally. These findings stand to equip policymakers with more robust evidence to underpin decision-making on trans-inclusive healthcare.
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| 3. LGBTQI+ professionals less satisfied with pay |
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The Robert Walters Group has recently released a report on D&I in the workplace which found that LGBTQ+ professionals were less satisfied with their pay compared to their heterosexual counterparts, with almost 1 in 2 respondents citing that their pay was not an accurate reflection of their work output. The report also found that a heterosexual employee was 10% more likely to receive a promotion than an LGBTQ+ employee. _____ Our View: It also found thatLGBTQ+ professionals were twice as likely to report the relationship with their manager as the key barrier to negotiating higher pay. These alarming statistics reflect the disproportionate level of barriers that LGBTQ+ employees face in the workplace.
Building psychologically safe working environments for LGBTQ+ employees doesn't happen in a vacuum. For more information on how you can proactively support and empower your LGBTQ+ employees and allies, get in touch. Our accredited 'Managing with Pride' workshop for people managers is one option to help kickstart this conversation. For more information on this and LGBT Great's other training programmes, contact alex@lgbtgreat.com
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| 4. Andorran Prime Minister comes out as gay |
| On 11 September 2023, Xavier Espot Zamora, Andorra’s Prime Minister, came out as gay in an interview on Andorra Radio and Television becoming the country's first ever gay Premier and the 5th openly LGBTQ+ head of state in the world. _____ Our View: We should not underestimate the impact that Zamora's public announcement will have on the LGBTQ+ community in Andorra.
We know that visible, high-profile LGBTQ+ role models have a substantial and real-world impact on those around them. In LGBT Great's Seeing is Believing report (2023), we found that having visible LGBTQ+ role models improved the feeling of confidence held by LGBTQ+ employees at work significantly. To read more about how role models change LGBTQ+ lives, click here.
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| 5. Homophobia becomes punishable by prison in Brazil |
| _____ Our view: While many countries around the world have rolled back LGBTQ+ protections in recent months, Brazil is blazing a trail by implementing harsher punishments on homophobic speech.
In a country which has been deemed the deadliest for trans people around the world with a harrowing report of at least 2,190 murders between 2008-2022 due to anti-trans hate, such legislations are crucial to protecting the community and we hope that more countries will follow suit in the near future.
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| Upcoming Events & Webinars |
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Applications for new Corporate Members are currently open. If you would like to find out more about the membership options with LGBT Great, get in touch today via this short form. |
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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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