Gender balance on boards
Deputy Higgins welcomes progress on female board representation and seeks support for her corporate governance Bill. The Tánaiste backs the Bill’s aim and says progress has been made, though more remains to be done.
I thank the Ceann Comhairle and all the staff for their support and patience this year and wish everybody a very merry Christmas.
This week, Balance for Better Business reported that the target of 30% female representation on boards in our 20 most successful listed companies has not just been achieved but has actually been surpassed. That is a huge achievement. As the Tánaiste knows, I came to the Dáil from the corporate world and it is my firm belief that this progress needs to be replicated in all companies across Ireland.
Earlier this year, I tabled a Bill in collaboration with the National Women's Council of Ireland that would require gender quotas at boardroom level for all Irish companies. This is a recommendation from the Citizens' Assembly on gender equality and it would be the quickest way to get to a point where business is a more diverse and inclusive space. Will the Tánaiste, as Minister responsible for enterprise, lead with me on this important issue?
Comment on this
I thank the Deputy for the work she has done on this matter. I share the objectives of the Private Members' Bill, namely, the Irish Corporate Governance (Gender Balance) Bill 2021, which is designed to increase the participation of women at the highest levels in the corporate world. I look forward to meeting with the Deputy on the Bill and having it debated in this House in due course.
As the Deputy acknowledged, we are now up to 30% female directors on ISEC companies. We are moving up the EU league table in that regard. It is not enough, however. There are still five all-male boards of listed companies and it is still the case that 34% of listed companies have no females on their senior leadership teams. That is not acceptable and needs to change.