BGF has joined the fight to drive a more inclusive culture in the investment and savings industry by giving its support to The Diversity Project.
The Diversity Project was launched in 2016 by Dame Helena Morrissey to help foster a truly diverse and inclusive UK investment and savings industry that delivers optimal outcomes and reflects the whole of society.
Through its vast network of influential individuals and businesses, The Diversity Project works to accelerate progress towards an inclusive culture that embraces all aspects of diversity – including gender, ethnicity, socio-economic background, LGBTQIA+ and age and disability.
As businesses start to emerge from the coronavirus crisis, BGF recognises that it is time to intensify efforts to create inclusive cultures and that diverse perspective are needed to deliver answers to complex issues faced by the industry.
BGF joins HSBC Global Asset Management, Standard Life Aberdeen and Legal & General amongst others as supporters of The Diversity Project. The move cements BGF’s ongoing commitment to doing all it can to be both a thought leader as well as a capital provider to improve diversity and inclusion (D&I) in the sector. BGF will also be unlocking an enormous opportunity for founders and the British economy.
This announcement comes after The Diversity Project launched its #BuildBackBetter compendium of suggestions for accelerating progress in diversity and inclusion across the investment and savings industry. The recommendations focus on four key areas: resilience, role modelling, flexible working and collaboration.
The UK Enterprise Fund
Earlier this year, BGF and Coutts, the Private Banking arm of NatWest, launched The UK Enterprise Fund to bring additional funding and support to entrepreneurs across the UK. This new partnership will identify and address equity gaps throughout the whole of the entrepreneurial ecosystem, with specific initiatives and programmes for female-led businesses and aimed at increasing the diversity of management teams.
Stephen Welton, Executive Chairman, BGF comments: “BGF is committed to helping to achieve a more inclusive and diverse investment landscape in the UK and ensuring that growth capital to a greater extent backs entrepreneurs and management teams that represent the whole of our society. BGF recognises that whilst progress has been made across the broader financial community, there is a great deal more to be done.
“As we enter the next stage of the coronavirus crisis, now is the time to use the momentum created by the pandemic to harness broader talent and emerge more socially aligned, resilient and modernised.
“Diversity of ideas is essential for a thriving economy – and it’s vital that this diversity is reflected in the teams behind the pitches if we want to unlock the best of UK entrepreneurial talent. The industry at large must evolve so that it is more inclusive and that it is supporting more businesses led by diverse founders. Joining The Diversity Project is another key milestone for BGF in realising this objective.”
The Diversity Project
Dame Helena Morrissey, chair of The Diversity Project, said: “I’m delighted that BGF is joining The Diversity Project. It’s vital that growing businesses and entrepreneurs have access to practical guidance and support in their D&I initiatives. BGF has a wealth of experience in understanding the needs of business leaders, and it’s great to have a partner who can bring that kind of detailed insight to the table.”