Women in Finance Charter improves diversity at senior level

Catherine McGuinness, chair of the policy and resources committee at City of London Corporation, said: “This review shows signatories are moving in the right direction, but we need to increase the pace. We all face a much more challenging environment now, and women have been hit particularly hard by the economic impact of Covid 19.

“I hope we can all contribute to further progress in the difficult times ahead and ensure we do not lose any of the progress which has already been made. As we adapt to new ways of working and rebuild our economy, let us use this opportunity to support women in finance.”

The review by New Financial comes after the Government Equalities Office announced in March that employers would not be expected to report their gender pay gap data for the 2019-20 year as a result of the coronavirus.

In normal circumstances, employers who fail to report their data could face court action and an unlimited fine.

Commentators have warned that diversity and inclusion efforts must not take a ‘back seat’ as companies grapple with different working practices brought about by the coronavirus.