The percentage of women on the boards of Britain’s top 200 financial companies has risen by almost a third in the five years since the government launched an initiative to improve gender balance in the sector, a report said Monday.
Since the launch of HM’s Treasury Women in Finance Charter in March 2016, the number of women on corporate boards has risen to 32% from 23%, according to the New Financial team in a map impact review.
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Women’s representation on executive committees, meanwhile, has risen to 22% from 14%, he added. Based on the current rate of change, women would reach parity in the boardroom in 2029 and in the executive committees in 2033.
“While women’s representation is moving in the right direction, there is still a long way to go,” said Yasmine Chinwala, a co-author of New Financial and co-author of the report.
“If industry is to keep pace with change over the next half decade, it will have to face the toughest challenges.”
Among them is the need to build a conduit for female talent, to ensure accountability throughout the organization, and to develop more women into revenue-generating roles.
“For the next five years, we need to move from discussion to action, from individual work to working together, and from a narrow understanding of gender diversity to include women from all walks of life and every part of society. “, said Amanda. Blanc, CEO of the British insurance company Aviva.