NSW seeks board balance
The NSW Government has imposed gender targets on 81 board positions for its State Owned Corporations (SOC) and Public Financial Corporations (PFC).
Women currently hold 40 per cent of the state’s SOC and PFC board positions.
NSW treasurer Matt Kean has announced a new standard that will see no less than 40 per cent of board director positions filled by women, and 50 per cent for board positions overall.
The state says it wants to reach this goal by the end of 2022 for SOCs and “as soon as practicable” for PFCs.
“Greater gender diversity in our boardrooms will positively impact the decisions and direction of our businesses,” Mr Kean said in a statement.
“It is important our government businesses lead the way in providing women with equal employment opportunities.”
Data and details on the board targets will be published online.
“Highly credentialled women across NSW will bring their talent and expertise to these boards to provide insights and make decisions that reflect the broader gender mix of NSW,” Mr Kean said.
NSW’s Minister for Women Bronnie Taylor says having more women on these boards will lead to better outcomes.
“NSW’s State Owned Corporations stretch across the energy, water, ports, transport and forestry sectors and these targets will see more diverse views represented,” Mr Taylor said.
“Increasing the number of women on our Public Financial Corporation boards will bring a greater range of perspectives to insurance, lending and investment management, ultimately helping women gain greater financial independence and security,” she said.