Financial Services Institutions Using their Might to Drive Diversity in the Boardroom
As pressure from regulators and the public has continued to grow on #sustainability issues including #diversity and #inclusion, BlackRock has just confirmed new expectations for Boardroom #leadership.
The $9.5 trillion global asset management #business set out its 2022 voting guidelines, saying it expects US company Boards to aim for “30% diversity.” BlackRock will look for two or more women and at least one individual who identifies as being a member of an underrepresented group (e.g. ethnic minority, #LGBTQ, etc).
BlackRock's announcement comes at the same time as The Singapore Exchange (SGX) has announced a series of sustainability and transparency-related rules for issues, including reporting on #boardroom diversity policies and progress.
It also comes hot off the heels of Goldman Sachs' announcement earlier this month that from March 2022 it will expect all S&P 500 and FTSE 100 companies to have at least “one director from an underrepresented ethnic minority group on their Board.”
There are those who describe this as reactive and not proactive; and a response to pressure, rather than reflective of a considered will and openness to #diversityandinclusion.
Whatever the catalyst, there is no denying that these #financialservices institutions are using their might to provoke change in the Board room: diversity at the top table.
What more can you do to provoke positive change?
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