• Nearly half of respondents sayenacting more LGBT-friendly workplace policies and practices presents abusiness opportunity
• Three in five respondents believethe business world has a fundamental imperative to drive change around LGBTdiversity and inclusion
• Executives in China, Indiaespecially likely to rate recent progress for LGBT inclusion in their firms ashigh

HONGKONG SAR - Media OutReach -7 December 2020 - Asia is the new global battleground for lesbian, gay,bisexual and transgender (LGBT) rights. Our recent study, Prideand Prejudice: The next chapter of progress, sponsored by Manulife, Barclays and Nomura, captures theopinions of 359 full-time employees at companies across seven economies--China,Hong Kong, India, Indonesia, Japan, Singapore and Taiwan--via a survey. Itreveals advances for LGBT inclusion in Asia's business community, despite aconservative "groupthink" mentality that remains widespread.

Whilecompanies in the West have played a vocal role in advancing LGBT rights overthe past several years, companies in Asia stand at a crossroads. Whereas justover 60% of Indian respondents believe there has been substantial or major progresswhen it comes to diversity and inclusion for LGBT people in their firms, halfof respondents from Indonesia, Hong Kong, and Japan believe no or littleprogress has been made. These contradictions call for a brighter spotlight onhow Asian companies can foster LGBT acceptance, given the concerns arounddisclosing one's sexual orientation/gender identity in the workplace.

Asia'stwo dominant powers, India and China, have positioned themselves as regionalleaders on LGBT acceptance in many questions in our study. As theirgeopolitical influence grows, their corporate views are becoming more alignedwith that of their employees, a young, dynamic cohort for whom promoting LGBTrights is more a priority than for their seniors. As China and India move towardsembracing LGBT diversity and inclusion, they shape a trend to be followed bythe rest of Asia.

Thefull report is available for download here.

About Pride and Prejudice

Pride and Prejudiceis The Economist Group's multi-year initiative focused on advancing progressfor the LGBT community, in both work and broader society. It encompassesevents, original reporting, outreach campaigns and research. Manulife is thegold sponsor and Barclays and Nomura the silver sponsors of this year'sresearch.