Senior Partnerships Adviser
A report released by the world’s biggest fund manager, BlackRock has revealed 78% of ASX 200 companies’ gender diversity reporting is perfunctory or worse, with only 3% of companies reaching the ‘excellent’ rating, and only 19% receiving a ‘good’ rating.
The report, Why corporate Australia’s gender policies need to be wound into their DNA, is based on information received from the gender diversity disclosure and policy principles required by the Australian Securities Exchange (ASX) in its Corporate Governance Principles.
The six companies that received an excellent rating were Mirvac Group, Perpetual Limited, Graincorp Limited, Telstra Coporation Limited, Westfield Group and the Westpac Banking Group.
Pru Bennett, BlackRock’s Corporate Governance and Responsible Investment Director, Head of Asia Pacific believes these companies should be applauded for their continued commitment to disclosure, but says the majority of companies still have a largely minimal mindset to the reporting of their diversity obligations.
“To simply state a company has a diversity policy, list some objectives and disclose some statistics does not equate to good disclosure,” says Ms Bennett.
While BlackRock believes gender diversity can have positive ramifications for return on investment over the medium-to long-term, Ms Bennett notes that the report findings show the current commitment to gender diversity, despite the recommendations of the ASX on gender diversity, are minimal.
“It appears from the board down gender diversity is not included in the DNA of most companies.”
You can download a copy of the report from the BlackRock website.