</p> The</em> Sibos Insider Blog provides inspiring insights from financial industry experts and influencers. The blogs provide informed thought-leadership on a range of topics. The opinions expressed in these blogs reflect the personal views of the author and not their organisation, Sibos, or Swift.</em></em></p> </div> </iframe> </div></figure> Strides toward LGBTQ+ representation and inclusivity on the global stage are undeniable, yet lingering challenges in some areas remind us of the intricate interplay between personal identity and professional space.</p> Trade Finance Global (TFG) has partnered with several major organisations in the trade, treasury, and payments space to come together and explore the challenges and opportunities that the LGBTQ+ community faces in the industry.</p> TFG’s Deepesh Patel spoke with Catherine Lang-Anderson, partner at Allen & Overy; Natasha Condon, global head of trade sales at J.P. Morgan; Roberto Leva, trade and supply chain finance relationship manager at the Asian Development Bank; Rogier van Lammeren, managing director, head of trade and working capital products at Lloyds; and Alan Koenigsberg, SVP Visa commercial solutions at Visa.</p> These industry leaders celebrate strides made, discuss the power of role models, explore the transformative steps needed to adopt a more inclusive future, and help usher in a vision of a future where every voice is heard and every story valued.</p> Current state of LGBTQ+ representation in the trade, treasury and payments sector</strong></p> The financial services industry has experienced notable changes in terms of LGBTQ+ representation and inclusion, yet challenges such as assumptions about heterosexuality and gender norms remain common and highlight the complexity of personal and professional intersections globally.</p> Different parts of society each approach these norms and assumptions in their own way, and sometimes, these approaches can change depending on the exact context of the situation.</p> van Lammeren said, “The business case for promoting diversity is clear. Extending opportunity and equality for all of society simply is the right thing to do, and we also know that diverse companies outperform industry peers on performance and profitability. Diversity is known to drive innovation, better client insight and attracting talent therefore it is important that we recognise and respect the diversity of thoughts and beliefs across different cultures and countries.”</p> Regardless of the individual approaches used, positive trends across organisations are emerging. Some firms are increasingly prioritising diversity, equity, and inclusion efforts, and the presence of LGBTQ+ employee groups, pride organisations, and diversity councils within financial institutions contributes to a more inclusive atmosphere.</p> Despite the progress, it's evident that the industry's current state of LGBTQ+ representation remains a mix of encouraging developments and areas that still need improvement.</p> Koenigsberg said, “We've entered an era of pride month</em>, with lots of companies turning their logos pride coloured for the month even though they may not be through and through as authentic as we would like. It is always delightful to see any step towards inclusivity–no negative aspersions intended–but this can show that sometimes more progress is still needed beyond the surface.”</p> While strides are being made to ensure everyone feels included, it is important to recognise that true inclusivity is more than a surface level change. It requires a deep-rooted change that considers and addresses the unique needs of all groups of people.</p> Inclusivity starts at the top</strong></p> To drive visibility and empowerment, highlighting LGBTQ+ role models through profiling and engaging external speakers can inspire others while providing relatable perspectives and dismantling biases to foster a more accepting environment.</p> Lang-Anderson said, “In our space, we've been brilliant at profiling role models on the gender front and amplifying the message around women in commodities and trade finance. My hope now is that we can broaden the discussion out to cover other aspects of diversity like the LGBTQ+ front.”</p> Equally crucial to highlighting role models are equitable policies that consider various aspects, including parental leave, gender-neutral facilities, and non-discrimination clauses, ensuring that all employees' needs are addressed.</p> These are policies that senior management need to support.</p> In tandem, actively seeking diverse talent through recruitment programs demonstrates an organisation's commitment to inclusion while broadening perspectives and fostering innovation.</p> Condon said, “I want to compete for the absolute best talent. I want people fighting like cats and dogs to get into my organisation because it's the best place to be. When you look at the new generation coming into banking, they take it as read that organisations should be inclusive and aren’t interested in working for somebody who is not.”</p> When you look at the new generation coming into banking, they take it as read that organisations should be inclusive and aren’t interested in working for somebody who is not.</p>Natasha Condon, global head of trade sales at J.P. Morgan</cite></blockquote> A diverse environment with different perspectives and opinions can lead to more creative problem solving and better decision-making. It is also important to have employees willing to challenge the status quo and push the organisation to higher levels of performance, something particularly important for multinationals.</p> Beyond borders: Fostering inclusivity on a global scale</strong></p> For multinational organisations, advocating for LGBTQ+ rights on a global scale underscores their societal responsibility and leadership in driving positive change. Organisations are recognising their global impact and advocating for inclusivity in regions where acceptance may be lacking.</p> Leva said: “We recognise that the exclusion of the LGBTQ+ community will hurt the national development and GDP of any country because it simply leads to a loss of human capital. Ultimately, diversity is a driver of creativity, so hindering the LGBTQ+ community is a missed opportunity to improve things like decision making or problem solving.”</p> Many financial institutions are integrating diversity, equity, and inclusion principles into their core values, advocating for LGBTQ+ rights, and demonstrating support through dedicated employee networks.</p> Harnessing a company's voice to champion these principles reaffirms the commitment to fostering an inclusive space, demonstrating how the industry is evolving towards an environment where everyone can thrive.</p> Some useful resources for the LGBTQ+ financial services community</strong></p> The National LGBT Chamber of Commerce</a></strong></p> Provides resources for LGBTQ+-owned businesses, including financial assistance, business development training, and networking opportunities</p> LGBTQ+ Resources in Business and the Workplace - Library of Congress</a></strong> </p> A guide that provides links to external organisations and programs supporting the LGBTQ+ community in business and the workplace, including resources for LGBTQ entrepreneurs and workers</p> Oxford LibGuides - LGBTQ+ Business Resources</a></strong></p> A collection by the Bodleian Libraries at the University of Oxford, offering a range of resources, articles, and insights on LGBTQ+ inclusion in the business sector, from marketing to creating LGBTQ+ friendly workspaces</p> Stonewall - Resources for creating an LGBTQ+ inclusive workplace</a></strong></p> A resource hub by Stonewall, drawing from over 20 years of experience, offering toolkits, guides, and insights to support organisations in their LGBTQ+ inclusion journey</p>