Vakrangee Limited has been included and is now part of the Bloomberg’s 2021 Gender-Equality Index (GEI). The 2021 Bloomberg GEI comprises 380 companies across the world with a combined market capitalisation of USD14 trillion, headquartered in 44 countries and regions across 11 sectors. The average overall GEI score is 66 percent; however Vakrangee has scored 70.86 percent. It reflects the company’s long-standing commitment to being a fully inclusive firm and to the women who make business successful every day.
The objective of GEI is to develop transparency when it comes to gender-related policies and practices at publicly listed companies who are contributing in the environmental, social and governance sector (ESG). With GEI transparent scoring methodology, it allows investors to assess company performance where you can compare across your industry peer groups. In order to measure gender equality, there are five pillars - female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand.
Vakrangee has always been a responsible and socially conscious company. Being one of the largest franchisee-based, multi-service retail network, Vakrangee is focused on creating India’s extensive network of last-mile retail outlets at every postal code in the country, enabling Indians to benefit from financial, social and digital inclusion.
Through its vast network of 10,000+ NextGen outlets, Vakrangee is driving financial, digital and social inclusion in rural India. Financial inclusion is achieved through the promotion of the government’s financial and social inclusion initiatives such as PMJDY and social security insurance schemes. Through its Kendras, the company provides universal access to banking, insurance and pension schemes as well as Direct Benefit Transfer of subsidies.
The company has been successful in benchmarking its performance on a wide range of industry specific economic, environmental, governance and social criteria that are relevant to the growing focus on business sustainability and financially relevant to the corporate success.
Dinesh Nandwana, the Managing Director and Group CEO, Vakrangee Ltd, stated: "We are extremely proud to see that Vakrangee is recognised and included in 2021 Bloomberg Gender-Equality Index (GEI). This recognition reflects our commitment to gender equality and transparency.
Vakrangee has always been a responsible and socially conscious company. Gender Equality is fundamental to our philosophy and core DNA of being a social equaliser. Equal treatment for women and men is not just the right thing to do but also makes good business sense for now and the future. We strive to build a workplace culture with gender diversity and believe it is core to the success and growth of our company."
Through disclosure of gender-related metrics using the GEI framework, the firms included in the 2021 GEI have committed to provide a comprehensive look at their investment in workplace gender equality and the communities in which they operate, raising the bar of what should be expected from other companies within the same industry. Vakrangee Limited was included in this year’s index for scoring at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework’s five pillars.
Vakrangee has further mapped its sustainability initiatives with the United Nation’s Sustainable Development Goals. It has been accepted as a Signatory of the United Nations Global Compact. Vakrangee is now part of a global network of over 9,500 companies and 3,000 non-business participants that are committed to building a sustainable future.This is a partnered post.