Get 2X Certified

The 2X Certification Methodology builds upon the foundations of the 2X Criteria, and offers a comprehensive set of standards that outline gender best practices across the full value chain (“Dimensions”) and core gender themes (“Themes”).

Overview

The development of 2X Certification invited and involved input from a wide array of sources. It drew from relevant, existing resources, including among others: the foundation and momentum of the 2X Criteria and its Guiding Principles; leading gender frameworks and their respective, detailed gender indicators; impact metrics from relevant studies and standards for standards setters. 2X Certification was designed, developed and refined based on feedback from an extensive set of stakeholders across global markets, including practitioners, experts and target audiences.

Over the course of more than a year, different efforts were undertaken to invite expertise from across the world, including:

  • Co-creation workshops and public consultation processes, including around 600 individual stakeholders,

  • Dozens of individual and small group sessions with practitioners, experts and target audiences, and

  • A three-month Certification pilot with five organisations, comprising a mix of funds and companies, along with three verifiers.

2X Certification Methodology

The 2X Certification Methodology builds upon the foundations of the 2X Criteria, and offers a comprehensive set of standards that outline gender best practices across the full value chain (“Dimensions”) and core gender themes (“Themes”). Dimensions cover operational aspects across the value chain, highlighting the breadth and depth of gender-smart initiatives. Themes address core gender issues where gender-smart actions can be taken across the full value chain and within the organisation to progress towards more equitable outcomes.

Dimensions and Themes are addressed in an integrated way rather than separately. More information on the Methodology can be found in the 2X Certification User Guide (publishing soon).

Meeting the minimum requirements for
2X Certification

For each 2X Certification level, a set of minimum requirements have been identified that delineate what is required at each level. These requirements consider both the breadth and depth of gender efforts that an entity undertakes. They are organised into a few key components: (i) Basic 2X ESG; (ii) Governance & Accountability; and (iii) Dimensions, which for funds includes Portfolio.

Benefits of 2X Certification

  • Achieving 2X Certification, which emphasises gender diversity, can significantly improve a company's bottom line. Research from McKinsey & Company’s “Diversity Wins: How Inclusion Matters” (2020) shows that companies with greater gender diversity, particularly at the executive level, are 25% more likely to have above-average profitability. This demonstrates that businesses embracing gender-smart practices, as advocated by 2X Certification, are better positioned for financial success.

  • 2X Certified companies are strategically positioned to capture new markets. According to McKinsey & Company’s “Delivering through Diversity” (2018) report, gender-diverse organisations have a 45% higher likelihood of increasing their market share. By fostering diverse teams, 2X Certified businesses can develop more innovative products and services that resonate with a broader customer base, driving growth.

People around a table talking

  • 2X Certification can significantly enhance investor confidence, as more than 80% of investors consider gender diversity in their investment decisions, according to Morgan Stanley’s “Sustainable Signals” (2019). Companies with 2X Certification are viewed as lower-risk and better managed, often leading to higher valuations and stronger financial outcomes.

  • The strong correlation between gender diversity and higher Return on Equity (ROE) underscores the financial value of inclusive leadership. MSCI's findings that companies with robust women representation at the board level achieve a ̴ 36% higher ROE than those without, reinforces the business case for gender-smart investing. The 2X Certification leverages this insight, promoting gender diversity within leadership and broader company practices as a strategic advantage, aligning with the goal of fostering more resilient and profitable investments.

How to get 2X Certified

For each 2X Certification level, a set of minimum requirements have been identified that delineate what is required at each level. These requirements consider both the breadth and depth of gender efforts that an entity undertakes. They are organised into a few key components: (i) Basic 2X ESG; (ii) Governance & Accountability; and (iii) Dimensions, which for funds includes Portfolio.

In order to be 2X Certified, an entity must complete the 2X Certification process on the 2X Certification Platform. This process involves:

  1. Self-Assessment: The organisation completes the 2X Certification Self-Assessment on the platform. Indicative results are displayed upon completion. 

  2. Verification: The next step is to verify the information submitted in the 2X Certification Self-Assessment. This is conducted by an independent, trained third-party verifier who will verify the accuracy and authenticity of the data submitted. 

  3. Certification: Once the data has been assessed and verified, the entity receives their official certification. The certification process is led by 2X Global, and is solely dependent on the successful completion of verification.

  4. Action: Implementation of proactive gender-smart strategies and initiatives to encourage further progress.

2X Certification levels

2X Certification has identified 3 distinct levels of Certification: Good, Advanced and Best-in-Class. These levels differentiate among entities that demonstrate fundamental gender-focused efforts and those whose efforts and practices are more robust. They also invite approaches that vary in their breadth (“Broad”) and depth (“Targeted”) across and/or within different aspects of the value chain and core gender issues.

2X Certification levels are intended to outline clear standards for gender performance. Entities are encouraged to continuously improve their gender efforts over time, inviting opportunities to identify, adopt and implement further gender action.

Good: Demonstrates core gender-focused efforts that meet the minimum requirements. Broadly aligns with the 2X Criteria, with some differentiating requirements.

Good: Demonstrates core gender-focused efforts that meet the minimum requirements. Broadly aligns with the 2X Criteria, with some differentiating requirements.

Ex. Company with clear intentions to drive gender equity AND gender diversity in leadership AND a commitment to driving gender diversity in its workforce.

Advanced: Demonstrates action beyond the minimum requirements. Broad approaches demonstrate greater gender efforts in an additional area while Targeted approaches demonstrate deeper efforts in one area.

Advanced: Demonstrates action beyond the minimum requirements. Broad approaches demonstrate greater gender efforts in an additional area while Targeted approaches demonstrate deeper efforts in one area.

Ex. Fund focused on portfolio companies bringing care products/services to market that specifically address women’s unpaid care responsibilities AND has an investment thesis that explicitly integrates a gender lens AND a commitment to driving gender diversity in its leadership.

Best-in-Class: Demonstrates gender efforts that are leading the field in their breadth (strong performance in multiple areas) and/or depth (strongest performance in one area with greater performance in one or more other areas).

Best-in-Class: Demonstrates gender efforts that are leading the field in their breadth (strong performance in multiple areas) and/or depth (strongest performance in one area with greater performance in one or more other areas).

Ex. Company with demonstrated gender diversity in its leadership and workforce, with efforts to support further improvement in these areas over time, as well as early efforts to address gender in its supply chain that include a clear commitment to women supply chain workers and related support programmes.

How much does it cost?

2X Certification costs are based on entity type and size. Below is a table to guide you on pricing.

  • Verification costs are fees due to third-party Verifiers for the provision of verification services as part of the 2X Certification process.

  • Certification fee covers the issuance of the 2X Certificate and accompanying marketing collateral including the 2X Certification badge.

Entity Type Verification Certification
Start-up and SMEs USD 4000 - USD 5000* USD 499
Corporates USD 4000 - USD 5000* USD 2000
Funds (AUM < USD 100M) USD 4000 - USD 5000* USD 1000
Funds (AUM > USD 100M) USD 4000 - USD 5000* USD 2000

*Note: Verification cost is dependent on the third-party Verifier but ranges between USD 4000 - USD 5000