Frequently asked questions (FAQs)

General

  • As of December 2024, the 2X Certification is available for companies (including start-ups, SMEs, and corporates) and funds. The 2X Certification Body plans to expand this to financial institutions in 2025. 

  • 2X Certification aligns with other relevant ESG standards such as IRIS+, GRI Standards, and EFRAG, while also providing an emphasis on gender equity.  It draws and builds on existing gender frameworks such as EDGE Certification, Gender ROI, WEPs and Equileap, among several others, to create the 2X Certification 2X Certification Methodology and also includes mandatory verification by Third-Party Verifiers.

  • The 2X Certification differs because companies are assessed on their internal practices, while funds are assessed on both the internal practices of the fund manager and their impact through investments. Funds have a broader, systemic influence, requiring distinct metrics to capture their gender-smart ripple effect.

  • The 2X Certification Methodology not only considers how a fund manager advances their own institutional gender efforts at the Entity level but also considers how the fund supports and drives gender-smart practices in investment portfolios. The higher the proportion of portfolio companies that meet the minimum requirements of 2X Certification for companies, the higher the potential 2X Certification Level that the relevant fund can achieve.

  • “2X Flagship Fund” was a status which funds could attain under the 2X Challenge 2021-2022. This concept has now been replaced with 2X Certification. This means going forward, only 2X Certification is available for funds to receive an official recognition and a fund that achieves the 2X Certification Level “Best-in-Class” can be considered a 2X Flagship Fund. Funds that were awarded 2X Flagship Fund status under the 2X Challenge 2021-2022 do not automatically receive 2X Certification. They are invited to pursue 2X Certification and go through the formal 2X Certification Process to continue demonstrating their commitment to and achievement of gender-smart practices.

  • No, all Entities must complete “Step 3: Third-Party Verification” before a 2X Certificate is issued.

  • Once issued, a 2X Certificate is valid for a period of up to 2 years.

  • Pricing for 2X Certification can be found here. 

    The 2X Certification Self-Assessment is available to take once free of charge within a 12-month period. A fee is payable when taking it a second time within the same 12 months. This fee is currently waived until 1 September 2025.

    Third-Party Verification fees are set by Third-Party Verifiers and payment is made directly by Entities appointing the Third-Party Verifier. The 2X Certificate fees are based on Entity type and offered on a sliding scale.

Methodology

  • The thresholds for 2X Certification Level ‘Good’ are the same as those used for the 2X Criteria. The 2X Thresholds Tool for the 2X Criteria can be accessed here: https://www.2xchallenge.org/2xcriteria 

    Please refer to the following link for source information on the thresholds corresponding to the 2X Criteria: Threshold Sources 

    The 2X Certification Levels ‘Advanced’ and ‘Best-in-Class’ use higher thresholds than those set out in the 2X Thresholds Tool for certain Dimensions. Further information is available in the Technical Guide.

  • Yes, meeting Basic 2X ESG requirements at both the fund manager and the portfolio level ensures comprehensive adherence to environmental, social, and governance standards, enhancing credibility.

  • It is critical for an Entity to recognise the risk of violence and harassment in the world of workplace on the basis of gender as well as its disproportionate effects on women and gender minorities. Explicitly addressing the gendered aspects of violence and harassment is essential to tackling the barriers it presents to women and gender minorities in their participation and advancement in the workplace and society.

Third-Party Verification

  • Information on becoming a Third-Party Verifier and recommended training is available upon request by contacting the 2X Certification Body at certification@2xglobal.org. 

    Further information for Third-Party Verifiers is available here.

  • A Third-Party Verifier is appointed by an Entity. The Third-Party Verifier will assess any potential conflicts of interest before entering into a contractual relationship with an Entity. The fact that a Third-Party Verifier has provided TA or consulting in the past, is not per se considered a conflict of interest. The 2X Certification Body does not establish rules in this regard, but relies on the conflict of interest policies and management of the Third-Party Verifiers. Is it strongly recommended that re-certification is conducted by a different Third-Party Verifier.