Chinese language, Hong Kong corporations falling behind in appointing girls to board seats, new analysis reveals
Of the almost 2,700 corporations within the MSCI All Nation World Index (ACWI), girls held 17.9 per cent of directorships as of October final yr, up from 17.three per cent in 2017, in line with the “Ladies on Boards Progress Report 2018” by MSCI ESG Analysis.
Greater than a fifth of corporations within the index had all-male boards, most of which have been in Japan, China, South Korea, Taiwan and Hong Kong, the report discovered.
Almost a 3rd of 92 ACWI corporations in Hong Kong and 35.1 per cent of the 348 index corporations in China lacked feminine administrators, in line with MSCI.
“Asset house owners and managers in Asia are more and more changing into conscious of the potential impression of company governance elements, which incorporates enhancing variety and feminine illustration on company boards and in senior administration,” Jack Lin, MSCI’s head of shopper protection for Asia-Pacific, mentioned.
Globally, illustration of ladies within the govt suite confirmed positive aspects final yr, because the variety of chief monetary officers elevated from 233 girls in 2017 to 299 girls final yr, in line with MSCI. There have been 99 girls who held chief govt positions in 2018, with 26 within the US and 17 in China.
The report got here out on the identical day that PG&E, the California utility linked to scores of devastating wildfires in recent times, introduced that its CEO Geisha Williams would step down. The corporate’s shares are down extra 63 per cent since November and the utility is teetering on the point of chapter over considerations about its potential legal responsibility for wildfire harm.
MSCI’s flagship world fairness benchmark, the ACWI contains massive and mid-cap corporations from 23 developed markets and 24 rising markets.
Solely 11 corporations within the index had boards with a majority of ladies in 2018, together with First Monetary Holding of Taiwan and Chinese language actual property agency Xinhu Zhongbao, in line with the report. Thirty-two corporations had a fair variety of women and men on their boards final yr, the report mentioned.
MSCI initiatives it’ll take till 2029 earlier than girls account for 30 per cent of all directorships amongst index corporations primarily based on present developments. Between 2015 and 2018, solely 12.5 per cent of board seats that opened up have been crammed by girls, MSCI mentioned.