https://sharedservicescentre.sharepoint.com/sites/WGEA-CommunitySpace-TEAM/Shared Documents/Research and Education/Research/Submissions/ASX Corporate Governance Council/ASX-Corporate-Governance-Council_WGEA-submission_for web

We note that the consultation draft of the fifth edition of the Principles defines gender balance in line with the 40:40:20 principle (40% women, 40% men, 20% any gender), and below we also consider the merits of a target of equal representation of women and men. [...] Q6: Do you support the proposal to also recommend disclosure of the effectiveness of an entity’s diversity and inclusion practices? WGEA supports the expansion of the ASX Corporate Governance Council’s new introductory wording in Recommendation 3.4(c) and the proposal to recommend disclosure of the effectiveness of an entity’s diversity and inclusion practices. [...] The capability of the board to collectively make sound assessment of the effectiveness of diversity and inclusion policy and practice is a skill which is not innately held or acquired by the achievement of broader board member diversity alone. [...] A review of the literature regarding possible factors contributing to the lack of progress in advancing gender equality in the workplace found that the efficacy of diversity and inclusion initiatives was most often assumed by organisations, rather than rigorously tested.xlvii Therefore, as well as monitoring organisational efforts in this area, measuring and assessing the outcomes of these efforts. [...] 30 be changed to “The Workplace Gender Equality Act ‘Gender Equality Indicators’ apply to individual employing entities and corporate groups.” Conclusion While women now hold more than 35% of board seats on the ASX300 (per the AICD), representing the outcome of more than a decade of sustained progress on increasing the proportion of women on boards, the pace of change has recently slowed and furth.