CFA Institute debuts Diversity, Equity, and Inclusion Code for the Investment Profession in Asia Pacific with Australia launch

CFA Institute, the global association of investment professionals, and CFA Society Australia, today launched the Australia edition of its voluntary Diversity, Equity, and Inclusion Code for the Investment Profession (DEI Code).
The voluntary DEI Code is available to investment organisations in Australia of any size that seek to accelerate change by fostering a commitment to DEI.

The Australia DEI Code follows the successful introduction of a DEI Code in the United States and Canada in February 2022, the UK edition in October 2023, and the DEI Code Europe was launched in the Netherlands in June 2024. Since the February 2022 launch, the DEI Code has been adopted by more than 200 investment organisations, representing nearly 30 per cent of global assets under management. CFA Institute worked with CFA Society Australia and a DEI Code (Australia) working group of local investment and DEI professionals from organisations including HESTA, VFMC, Future Fund, Future IM/Pact, and The University of Sydney, to adapt the Code for DEI challenges and opportunities specific to Australia.

“Qualitative and quantitative research has proven that diverse perspectives lead to better outcomes on behalf of investors and create better work environments for employees. To make concrete progress on DEI, organisations that seek to do so need to integrate principles of equity and inclusion throughout the business in terms of behaviours, policies, and operations,” said Margaret Franklin, CFA, President and CEO, CFA Institute.

“I’m especially thankful for the collaborative support for the Australia edition of the DEI Code, and I am excited that industry leaders are seeing DEI as a business priority and the right thing to do to support their organisations’ purpose and values,” she said.

Signatory firms voluntarily commit to six metrics-based principles with the goal of creating better working environments and a cycle of positive change for future generations. The six principles to which signatories voluntarily commit are:

• Pipeline: Expanding the diverse talent pipeline.
• Talent Acquisition: Designing, implementing, and maintaining inclusive and equitable hiring and onboarding practices.
• Promotion and Retention: Designing, implementing, and maintaining inclusive and equitable promotion and retention practices to reduce barriers to progress.
• Leadership: Using our position and voice to promote DEI and improve DEI outcomes in the investment industry. We will hold ourselves responsible for our firm’s progress.
• Influence: Using our role, position, and voice to promote and increase measurable DEI results in the investment industry.
• Measurement: Measuring and reporting on our progress in driving better DEI results within our firm. We will provide regular reporting on our firm’s DEI metrics to our senior management, our board, and CFA Institute.

Sarah Maynard, ASIP, Global Senior Head, Diversity, Equity, & Inclusion, CFA Institute, commented: “The DEI Code is designed to help organisations address complex behavioural issues encountered in creating inclusive workplaces in the investment industry. The working group was very intentional about adapting the Australia edition to resonate better with local sensibilities, and provide Australian employers with a supportive action-focused framework to build impactful and measurable DEI strategies. By committing to the DEI Code, signatories in Australia take an important leadership role in further driving and accelerating critical and lasting change."

CFA Society Australia CEO Lisa Carroll commented: “With the launch of the Australia DEI Code, what is clear is that the market is taking actionable steps to tackle a challenge that is highly complex, while avoiding diversity-washing. Together with CFA Institute, we look forward to working with DEI Code signatories in Australia to build and develop more inclusive cultures across the investment sector. This will help close the gap between employers that want to act on DEI and those that actually do.”

Signatory organisations voluntarily commit to meet the following foundational reporting requirements within two years of becoming a DEI Code signatory:

• An established senior leader ownership and oversight governance process.
• Formal, written, publicly available communications outlining the organisation’s DEI strategy, policy, commitments, and high-level objectives.
• An implementation plan to integrate DEI within the signatory organisation’s people, processes, and policies.

To view the Diversity, Equity, and Inclusion Code for the Investment Profession (Australia), please visit here.

More information and resources about the Australia DEI Code can be accessed at the CFA Society Australia Investment Conference on 17 October in Melbourne.

Sarah Maynard will be available for interviews with reporters between 18 to 24 September.

To arrange an interview, please contact:

Nicki Bourlioufas
Telephone: +61 411 786 933
[email protected]