Legislative Board Diversity – Pending

Country or Region

Details

BRAZIL1

Quota: 40% WBD
Companies: SOEs
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

CANADA2

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: June 21, 2011
Compliance Date: 2018-2019 (dependent on company’s fiscal year end)
Interim Quota: At least 20% of each gender by 2015-2016 (dependent on company’s fiscal year end)
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 for an additional year (2016-2017) if meeting the quota would cause the company unreasonable hardship because the ratio of executive directors requires an increase in board size.
Status: Referred to Senate Committee

EUROPEAN UNION (EU)3

Target: 40% non-executive WBD; “flexi-quota,” set by companies, for executive directors
Companies: Publicly traded (> 250 employees and either > €43 million annual balance sheet or > €50 million in annual turnover)
Proposal Date: November 14, 2012
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: Awaiting first reading in Parliament

INDIA4

Quota: At least one woman director
Companies: As may be prescribed
Proposal Date: December 2, 2011
Compliance Date: One year after passage
Sanctions: The company and key managerial personnel of the company can be subject to a fine of 50,000 rupees to 5 lakh rupees.
Status: Lok Sabha passed December 18, 2012; awaiting passage by Rajya Sabha

PHILIPPINES5

Quota: 40% WBD
Companies: SOEs
Proposal Date: August 3, 2010
Compliance Date: TBD
Interim Quota: 30% WBD
Sanctions: Fee of at least 500,000 pesos
Additional Information: The Philippine Commission on Women will submit an annual compliance report to Congress and the Office of the President.
Status: Pending with the House of Representatives Committee on Women and Gender Equality

 

(Note: WBD = Women Board Directors; WEO = Women Executive Officers; SOE = State-Owned Enterprise)