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ACSI calls for 30 per cent female representation on boards
The Australian Council of Superannuation Investors (ACSI) has used International Women’s Day to call on listed Australian companies to improve their board gender diversity.
The organisation said that while there had been progress toward increasing gender diversity recently, the rate of change had been too slow.
ACSI promoted a target of 30 per cent female representation on boards, and said that only 76 ASX200 met this standard. Fifty-eight ASX200 boards have just one woman amongst their ranks.
“One women director does not equate to gender diversity. We expect all boards to put in place clear targets for gender diversity, including a timeframe for achieving those targets,” ACSI chief executive, Louise Davidson, said.
ACSI said that board diversity was a business issue, with companies who fail in this regard having unsustainable futures and being less attractive investments for the Council’s members.
The Council would this year publish a revised version of its 30 per cent representation policy that would include new incentives for companies to meet the target.
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