Legislative Board Diversity – Pending

Country or Region

Details

BRAZIL1

Quota: 40% WBD2 Companies: SOEs3
Proposal Date: April 27, 2010
Compliance Date: 2022
Interim Quotas: 10% WBD by 2016; 20% WBD by 2018; and 30% WBD by 2020
Status: Referred to Senate Committee

CANADA4

Quota: At least 40% of each gender (for boards with eight or fewer directors, the difference between genders cannot be > two)
Companies: Publicly traded, SOEs, and financial institutions (banks, cooperative credit associations, insurance companies, and trust and loan companies)
Proposal Date: March 26, 2014
Compliance Date: By the close of the sixth annual shareholders meeting after passage
Interim Quota: At least 20% of each gender by the close of the third annual shareholders meeting after passage
Sanctions: Post compliance date, any newly (re)appointed director of the majority gender is void
Additional Information: For the interim quota, companies may request a deferral through the close of the fourth annual shareholders meeting after passage if meeting the quota would cause the company unreasonable hardship because the ratio of executive directors requires an increase in board size.
Status: Awaiting second reading in senate

EUROPEAN UNION (EU)5

Target: 40% non-executive WBD on supervisory boards; “flexi-quota,” for executive directors, to be set by companies
Companies: Publicly traded (> 250 employees and either > €43 million annual balance sheet or > €50 million in annual turnover)
Proposal Date: November 14, 2012
Initial Passage Date: November 20, 2013
Compliance Date: January 1, 2020
Sanctions: To be decided and monitored by member states
Additional Information: Companies will annually report progress made toward executive director flexi-quota. If non-executive board composition is < 40% WBD, the company must introduce new selection procedures to give priority to equally qualified women candidates.
Status: Pending joint adoption by European Union member states and European Parliament