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Diversity, Equity, and Inclusion Code (USA and Canada)

Join CFA Institute in providing guidance and practical ways for the investment industry to embrace and realize diversity, equity, and inclusion (DEI). 

diversity equity inclusion

Diversity, equity, and inclusion are crucial elements in the future of the investment industry and the success of investment firms. CFA Institute recognizes that a diversity of perspectives will lead to better investor outcomes; an inclusive investment industry will better serve our diverse society. Further, we recognize that an organization, with an inclusive culture, awareness and education, and effective working relationships, is a better place to work. To help ensure these critical initiatives, CFA Institute is leading the industry in developing a voluntary code to guide DEI, beginning in the United States and Canada.

Development of the DEI Code

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In collaboration with a working group appointed in March 2020 by the CFA Institute DEI Steering Committee and alongside supporting organization Nicsa, CFA Institute has developed a draft DEI Code to set standards within the investment industry.

The Code outlines six key Principles within the following categories:

  • Pipeline
  • Talent Acquisition
  • Promotion and Retention
  • Leadership
  • Influence
  • Measurement

We are seeking your feedback on the Code’s Principles, requirements, and recommendations. The Principles are underpinned and informed by tested Implementation Guidance from the Experimental Partner Program and leading inclusion experts. A draft of the DEI Code Implementation Guidance is also available for review. Please submit comments by 4 September 2021.

Adoption of the DEI Code

We know that sustainable change is never easy, and that the investment industry has made attempts before to improve DEI without lasting impact. The DEI Code Working Group shared a common belief that progress required the commitment of the senior leaders at investment organizations who would have to both lead by example and hold their organizations accountable. Because of this, adoption of the DEI Code will be metrics-based and therefore not simply an aspirational designation. Signatories will be required to commit to reporting on the metrics that are relevant to their organizations at the outset of the adoption of the Code. CFA Institute has designed a Reporting Framework (XLSX) to aid this process.