International comparison
| Jurisdiction | Date | Action | Quotas | Sanctions | % women on boards1 |
|---|---|---|---|---|---|
| Australia | July 2010 | Companies listed on ASX are required to disclose proportion of women on boards and publish objectives for gender diversity. Recently the government announced that companies with over 100 employees should follow a similar course or face legal and financial penalties. “Comply or explain” strategy enforced. | - | Recent government announcement that companies will face legal and financial penalties. | 10.9% (March 2011) |
| Austria | 2009 | Companies must publish all gender diversity initiatives to promote women onto management boards. | Supervisory boards of state-owned companies 25% by 2013 and 35% by 2018. | - | 6.7% |
| Belgium | January 2011 | “Comply or explain” code in place for all board appointments of listed companies, in order to reach 30% women on boards within 7 years. | - | - | 6.5% |
| Canada | April 2006 | Quebec legislated for gender equality on Crown Corporation boards via quotas. | 50% by December 2011. | - | 11.3% |
| Denmark | 2008 | “Comply or explain” code whereby gender diversity must be taken into account on all board appointments. | - | - | 12.1% |
| EU | February 2011 | EU Commission VP believes quotas may be necessary if companies do not take voluntary action. VP has stated 30% of supervisory board positions by 2015 (and 40% by 2020) should be the objective. | - | VP talked of ‘credible legal sanctions’. | 9.6% (industrialised Europe) |
| Finland | 2008 | “Comply or explain” code requires that every board should have at least one male and one female director. | - | - | 21% |
| France | January 2011 | Bill has been passed requiring a 40% quota by 2016. For either listed companies, or companies that have more than 500 employees or a turnover of more than €500 million. Quotas are for 20% within three years and 40% within 6 years for listed companies, 40% within 9 years for unlisted. | 40% by 2016 | Nominations void and fees suspended for all board members if non-compliance. | 8.2% |
| Germany | February 2011 | Justice minister has publically threatened quotas if companies do not take voluntary action to address the imbalance and is considering quotas. | - | - | 9% |
| Iceland | 2010 | Public companies with more than 50 employees to have 40% women on boards by 2013. | 40% by 2013 | - | 14.3% |
| Netherlands | December 2009 | 30% quota for all companies with more than 250 employees by 2016. | 30% by 2016 | Non-compliance will require formal explanation. | 10.3% |
| Norway | 2002 | 40% quota with the deadline being July 2005 initially and then July 2008. Full compliance achieved 2009. | 40% achieved by 2009 | Fines /dissolution. | 35.9% |
| Poland | - | Corporate governance code recommends gender balance on boards. | - | No formal sanctions but companies attaining quota will get priority for government contracts. | - |
| Spain | 2007 | IBEX quoted firms with more 250 employees to have 40% quota by 2015. | 40% by 2015 | - | 6.6% |
| Sweden | - | “Comply or explain” code requires a commitment to gender balance on boards. | - | - | 23% |
| US | December 2009 | SEC introduced code requiring disclosure of nomination committees’ diversity considerations in appointing candidates. | - | - | 11.4% |
1 Source: Women on Boards: A Statistical Review by Country, Region, Sector and Market Index; Governance Metrics International; March 2009
