Gender, Diversity, and the New ASX Principles: A Balancing Act

Gender, Diversity, and the New ASX Principles: A Balancing Act | Ep. 93

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Delve into some of the proposed changes to the ASX Corporate Governance Principles and Recommendations. With a focus on gender balance, diversity, and material ESG risks, I offer a comprehensive analysis of the evolving landscape of corporate governance in Australia.

Key Takeaways:

Gender Balance and Diversity: The proposed fifth edition introduces measurable objectives for gender diversity on boards, including a minimum of 40% female (or 40% male) representation. While this is a significant step forward, why is there a lack of discussion around a 50/50 gender split and the potential for pushback on ‘soft quotas’ from key stakeholders.
Material ESG Risks: The recommendation to disclose material environmental and social risks has been expanded to include governance risks, along with the importance of considering these risks within the broader context of an organisation’s business model and strategy.
The Balancing Act: The episode explores the ongoing tension between global idealistic evolutions and Australian practicalities in corporate governance as a result of macroeconomic events and stakeholder submissions on the final shape of the principles.

This episode provides valuable insights into the current state of corporate governance in Australia and the potential implications of the proposed changes. Listeners will gain a better understanding of the challenges and opportunities facing boards and organisations as they navigate the evolving landscape – and ‘community expectations’ – of corporate governance.

Links Mentioned in this Episode

Find all versions and available submissions of the ASX Corporate Governance Principles and Recommendations here: https://www.asx.com.au/about/regulation/asx-corporate-governance-council

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