Madrid, June 26, 2020.- International LGBTI Pride Day, on June the 28th, commemorates the beginning of the recent fight against discrimination based on sexual orientation and gender identity. On this day, COFIDES reiterates its commitment to equal opportunities and and non-discrimination for this group.

INTERNAL ACTION

Last year, COFIDES approved a policy of protection and support for the rights of lesbian, gay, bisexual, transgender and intersex (LGBTI) people in the business sector. This policy provides protection for labour measures that guarantee real and effective equality of opportunities for LGTBI people.

COFIDES is a signatory to the Standards of Conduct for Business Tackling Discrimination against LGBTI People of the United Nations. Thus, to tackle discrimination against LGTBI people in companies, COFIDES has focused on developing a corporate culture based on inclusion, non-discrimination, equality and promoting diversity, including the elimination of unfair or abusive treatment in the workplace. 

The COFIDES Chairman, José Luis Curbelo, has underlined “the importance of placing people at the centre of the Company, so that both our employees and the people we influence through our projects abroad see their rights and freedoms respected and protected”. In this regard, he added that "unfortunately, in many countries it is still particularly difficult to address exclusion and discrimination against the LGBTI community, so we must continue working to end inequality and thus facilitate the achievement of the Sustainable Development Goals (SDGs)”.

EXTERNAL ACTION

These measures are also reflected in the external action of the Company. In its contracts for financing projects abroad, the Company requieres its clients to comply with ILO Convention 111, by which the project company must ensure that its policies and practices promote equal opportunities and prevent discrimination.

COFIDES recently created an Integrity Channel for the reporting of offences, including those involving sexual, labour or gender harassment. This new tool enables the receiving of reports, suggestions and complaints to be outsourced, with users able to track them and see what the outcome is.

ABOUT COFIDES

COFIDES is a state-owned company which has been offering financial support to Spanish companies investing abroad since 1988. COFIDES is accredited to the European Union (EU) to manage funds coming from the EU budget, allowing the structuring of transactions with a high impact on development. COFIDES is also accredited to the UN’s Green Climate Fund (GCF) and can therefore structure operations on climate change mitigation and adaptation. Moreover, COFIDES is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and also supports AECID in managing FONPRODE funds. COFIDES’s shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.