BlackRock Australia has released the findings of its diversity investigation of ASX 200 companies.
The following highlights some of the key discoveries, ascertained in the review process of the 2013 annual reports and in talking to the C-suite of these companies.
The 2013 BlackRock report Glacial Change in Diversity at ASX 200 Companies – Can Corporate Australia Escape the Imposition of Diversity Quotas key findings include:
- While the growth of representation of women on boards continues, it does so at an alarmingly slow pace.
- Disclosures made by ASX 200 companies regarding their gender policies point towards boards not appearing to take the issue seriously.
- Companies BlackRock identifies as providing good disclosure of their approaches to diversity include: CSL Limited, Computershare Limited, Graincorp Limited, Mirabela Nickel Limited, Mirvac Group, Pacific Brands Limited.
- The percentage of non-executive women on boards was 17.8% compared with 14.4% from BlackRock’s 2012 research. This increase is welcome.
- Although the level of women on boards has increased slightly, there has been little change in the level of diversity among Key Management Personnel (KMPs).
- 65% of diversity disclosures were considered perfunctory, with most organisations applying a largely ‘minimal standard’ mindset to the reporting of their diversity reporting obligations.
- Given the relatively poor rate of change in the statistics coupled with poor disclosure of policies, corporate Australia is open to our political leaders imposing quotas of women on listed companies.