By: Financial Times
July 09,2020
AXA Investment Managers SA said it will implement a 33% diversity target in a bid to address gender diversity issues in its companies globally.
The target is meant for listed companies in developed market economies, starting in 2021. At least one-third of boards in developed market economies like North America, Australia, New Zealand, Hong Kong, Singapore and some parts of Europe are not gender diverse, according to AXA IM.
Emerging market economies will also be targeted in 2020, AXA IM said, as their boards, particularly in Japan, do not have a minimum of one female director while larger boards have less than 10% female members.
AXA IM said it will urge companies to disclose and report their executive committee gender diversity policy and targets. It also said it may use its voting power in general meetings to deal with companies that have no plans to address gender equality.