Coles (ASX: COL) announces gender affirmation leaves

Image Source: © Nilsversemann | Megapixl.com

Highlights

  • Coles extends support to the LGBTQI+ community
  • Coles trans gender or trans diverse members to get ten days paid leaves for gender affirmation.
  • Coles’ competitor, Woolworths recently announced paid gender affirmation leaves.

Australian supermarket giant, Coles Group Limited (ASX:COL) has shown support for the LGBTQI+ communities as it announced ten days’ paid gender affirmation leaves for its employees. Gender affirmation can involve a range of actions to live like the gender they associate with internally. The actions in gender affirmation can be wearing new clothes, changing voice, modifying physical appearance, surgeries, updating names and so on.

To contribute to building a strong pride network, Coles has become an official partner of Pride Cup Australia. It promotes diversity and inclusivity in sports.

The shares of the Australian retailer were spotted trading 1.73% down to AU$18.13 per share at 10:08 AM AEST. Today (19 May 2022), ASX 200 dropped sharply by 126.30 points. 10 of 11 sectors of ASX were in the red. The benchmark index, ASX 200 Consumer Staples (XSJ) was down by 0.73%.

Related article: ASX 200 tumbles 1.8% at open as Dow sees biggest fall in 2 years

In the past five trading sessions, the share price of Coles has decreased by 0.60%, and in a month, it has declined by 1.15%. In one year, the share price has surged by 11.43%, and the year-to-date gain is 1.28%. 

Coles recognise its LGBTQI+ employees

Image source: © Rawpixelimages | Megapixl.com

Coles reportedly said that it has a minimum of 900 employees who identify themselves as gender diverse or transgender. With paid leaves, now these employees will be able to undertake transition in their life. Coles see this as a crucial step to promote the inclusion of the LGBTQI+ community.

On the partnership with Pride Cup, David Brewster, chief legal and safety officer of Coles, commented,

In a statement, CEO of Pride Cup Australia, James Lolicato, said that as a part of the partnership, the consumer service chain would assist in expanding its reach to more than 750 clubs across Australia annually by 2025.

Who else offers gender affirmation leaves in Australia?

Coles competitor Woolworths Group Limited (ASX:WOW) had earlier announced two weeks of paid leaves for its trans members to support gender affirmation.

Australian insurer Allianz has also showed support for the LGBTI by introducing four weeks of paid leaves for employees affirming their gender. The policy was introduced back in 2021.

Since 2019, Westpac has had a gender affirmation policy in place.

Must read: AMC, WOR, AHC: Three ASX stocks that hit multi-year highs yesterday

A political turn

Senator of Australia and the Australian Labor Party representative, Sue Lines, took to Twitter to praise Coles and point fingers at the Morrison government. She tweeted:

“Congratulations #Coles on introducing Gender Affirmation leave. You are way ahead of many Morrison government Ministers & MP #AusVotes2022 #auspol.”


 


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