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EU's von der Leyen in new push for women's quota on company boards

Wednesday, January 12, 2022
EU's von der Leyen in new push for women's quota on company boards © Reuters. FILE PHOTO: European Commission President Ursula von der Leyen speaks after a meeting at the Elysee Palace in Paris, France, January 7, 2022. Michel Euler/Pool via REUTERS/File Photo

(Reuters) - European Commission President Ursula von der Leyen will make a new push at boosting women's representation on companies' boards, trying to unblock legislation for a women's quota which has been stuck since 2012.

"It's time to move forward with this file," von der Leyen, who is the first woman to lead the Brussels-based EU executive, told the Financial Times on Wednesday.

"It’s been sitting on the shelf for 10 years now, but in these 10 years there has been a lot of movement and learning."

Von der Leyen said there was "overwhelming" evidence that companies with boardroom diversity were more successful and introducing legal requirements accelerated the pace of progress towards more gender-balanced representation.

Nevertheless, gender equality initiatives in the EU have stalled previously, including a 2012 legal proposal calling for listed companies in the bloc to fill at least 40% of their non-executive board seats with women.

Some EU countries refused to adopt that target as law, including Germany and some Nordic and Baltic states.

Von der Leyen told the FT she is ready to work with France to push for the proposed directive during the six-months Paris is holding the EU's rotating presidency, and that she is hopeful Berlin will drop its opposition now that a new government has been formed.

EU lawmakers should aim to settle the directive in the first half of the year if possible, and a deal could "definitely" be done at some point in 2022, von der Leyen said.

The directive does not set out sanctions, leaving these to member states, and it will not apply to small and medium-sized, or unlisted, companies, the Financial Times said.

France currently has the strongest female representation in the boardrooms of the biggest listed companies' at 45%, according to the report, against a 30% average for the EU as a whole.

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18-01-2022 10:35:38 (UTC+7)

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 EUR/USD1.1356Neutral
 GBP/USD1.3589↑ Buy
 USD/JPY114.63↑ Sell
 AUD/USD0.7195↑ Buy
 USD/CAD1.2515↑ Sell
 EUR/JPY130.16↑ Sell
 EUR/CHF1.0408↑ Buy
 Gold1,816.65↑ Buy
 Silver23.512↑ Buy
 Copper4.4183↑ Buy
 Crude Oil WTI84.86↑ Buy
 Brent Oil87.61↑ Buy
 Natural Gas4.315Neutral
 US Coffee C240.18↑ Buy
 Euro Stoxx 504,264.85↑ Sell
 S&P 5004,598.84↑ Sell
 DAX15,793.65↑ Sell
 FTSE 1007,570.35Sell
 Hang Seng24,112.78↑ Buy
 Small Cap 20002,121.90↑ Sell
 IBEX 358,776.20↑ Sell
 BASF67.920↑ Sell
 Bayer51.78↑ Sell
 Allianz226.00↑ Sell
 Adidas256.05↑ Sell
 Lufthansa7.125Neutral
 Siemens AG143.16Buy
 Deutsche Bank AG11.947↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,115/ 6,155
(-5/ -5) # 1,167
SJC HCM6,110/ 6,170
(0/ 0) # 1,183
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,185
SJC Danang6,110/ 6,172
(0/ 0) # 1,185
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,185
SJC Cantho6,110/ 6,172
(0/ 0) # 1,185
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