ASB emphasises commitment to diversity through sponsorship deals

ASB says it's including clauses in all its sponsorship contracts confirming its commitment to diversity.

The move comes after reports that Australian swimmer Ian Thorpe considered coming out as gay prior to the 2000 Sydney Olympics but decided not to due to the adverse financial consequences suffered by other gay sports people. It also comes after ASB last month said it was becoming the first New Zealand bank to commit to formal benchmarks around lesbian, gay, bisexual, transgender or intersex inclusion in the workplace by joining the Rainbow Tick programme.

“It’s wrong that modern athletes continue to feel the need to hide their sexuality due to fears over the potential impact on their commercial sponsorship arrangements," ASB CEO Barbara Chapman said.

“As an organisation, we sponsor individuals and teams because we are proud of what they do and we will continue to do so irrespective of their sexual orientation or gender identity,” said Chapman. “Financial considerations should never be a factor for an athlete deciding whether to be open with their sexuality."

Chapman added that openly gay role models are few and far between in sport meaning it's important corporate sponsors like ASB articulate clearly that factors such as sexuality, gender identity, race and  ethnicity have no bearing on sponsorship contracts.

“With this in mind, I think it is incumbent on all corporate sponsors to state their commitment to diversity in all their sponsorship contracts," she said.

Chapman said that as a tangible measure, ASB is including clauses in all its sponsorship contracts affirming its commitment to diversity.

ASB has sponsorship deals with the likes of New Zealand Football, secondary school sport, Tennis Auckland and the New Zealand Falcons gay rugby team.