Madrid, October 05, 2023. COFIDES has taken a leap forward in its commitment to diversity and inclusion by approving two collective bargaining agreements on the new LGTBIQ+ and gender policies in the workplace.Both policies demonstrate the company’s unwavering commitment to gender equality and inclusion of the LGTBIQ+ community in the workplace. POLICY ON INCLUSION OF THE LGTBIQ+ COMMUNITY
In accordance with the new Law 4/2023, 28 February, COFIDES has updated its policies to guarantee real quality for transgender people and safeguard the rights of LGTBIQ+ people. An updated glossary of terms has been made available.
It also focuses on respect for human rights in the business world, eradicating workplace discrimination, fostering a welcoming workplace environment, preventing human rights violations against third parties, including travel recommendations and representation abroad for LGTBIQ+ workers.
POLICY ON GENDER EQUALITY IN THE WORKPLACE
This policy is consistent with new employment regulations and the COFIDES Gender Equality Plan, which has made changes to some definitions to reflect current social trends.
The policy focuses on employee promotion and development, training programs, work-life balance, time management at work, holiday leave and preventing and addressing sexual and gender-based harassment. It also sets out inclusive language and measures included in the equality plans.
A whistleblowing procedure and disciplinary measures have also been added to ensure both policies are fulfilled.
This progress is an example of how COFIDES is committed to gender equality, diversity and inclusion and sets high standards in the business sector to ensure a fair and respectful workplace.
As well as its LGTBI policy, COFIDES has adhered to the UN Standards of Conduct to support businesses in tackling LGTBI discrimination, the REDI business network for LGBTI diversity and inclusion, and the Women's Empowerment Principles (WEPs).
COFIDES is a state-owned enterprise specialized in the management of State funds that provide medium- and long-term financing for private investments linked to different public policy purposes. COFIDES directly manages funds aimed at supporting the internationalization of Spanish firms, strengthening the solvency of companies severely affected by the COVID-19 pandemic, to attract foreign direct investment into Spain through co-investment deals and to contribute to the growth of the impact investment ecosystem in Spain. In addition, COFIDES supports the management of the financial cooperation portfolio of the Spanish Agency for International Development Cooperation, promoting sustainable development in emerging economies and developing countries. In the ownership structure of the Company, the Spanish State holds 53% of the equity. The remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).