A bold proposal by the Nasdaq stock exchange early this month may give U.S. corporate boards the biggest nudge yet to seat diverse directors increasingly seen as key to both good business and social justice as investors across industries focus more on melding the two.
A slowdown in the pace of change
MSCI ESG Research LLC has reported annually on the state of women’s representation on corporate boards since 2009. The 2020 progress report provides an overview of gender diversity at the corporate boards and C-suites of the 2,907 constituents of the MSCI ACWI Index as of Oct. 30, 2020.
The annual Census of women directors and executive officers plays a major role in The Boston Club’s Corporate Board Program, focusing attention on the identification and development of a vital pool of female expertise for corporate leadership positions.
Standardized disclosure framework to drive greater transparency on corporate governance
While progress continues to be made, hundreds of US public companies still have an all-male board of directors. Only about 10 percent of S&P 500 companies explicitly disclose individual directors’ race (ethnicity), and 8 out of 10 of those board members are white.
...we find that banks with more gender diversity on their board perform better once the composition of these boards reaches a critical level of gender diversity, corresponding to a board female share of around 13-17 percent.
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