Report finds many ASX200 companies failing to comply with ASX gender diversity reporting recommendations

Pru Bennett

78% of ASX200 companies’ gender diversity reporting is perfunctory or worse, according toBlackRock.

BlackRock’s review of the 2013 annual reports of companies included in the Standard & Poor’s/ ASX200 stockmarket index has ranked 3% of disclosures surrounding gender diversity as ‘excellent’, 19% as ‘good’ and the others perfunctory, poor or generally non-disclosing.

This investigation is the third BlackRock has undertaken into the gender diversity policies and disclosures of Australia’s top 200 listed companies. It is based on information revealed in response to gender diversity disclosure and policy principles required by the Australian Securities Exchange (ASX) in its Corporate Governance Principles.

Pru Bennett, BlackRock’s Corporate Governance and Responsible Investment Director – Head of Asia Pacific, said: “Companies such as Mirvac Group should be applauded for their continued commitment to disclosure.

“However, the majority of companies are still applying a largely minimal standard mindset to the reporting of their diversity obligations.

“In the three years since our first report on diversity in Australia’s 200 largest listed companies, there has been some improvement but there is scope for more.

“To simply state a company has a diversity policy, list some objectives and disclose some statistics does not equate to good disclosure.

“We believe gender diversity can have positive ramifications for return on investment over the medium- to long-term.

“However, our findings show – despite the recommendations of the ASX on gender diversity – the current commitment to gender diversity is piecemeal and they could definitely do better.

“It appears from the board down, gender diversity is not included in the DNA of most companies.”