Ostrum AM reiterates its commitment to the 30% Club France Investor Group
Women’s representation in SBF 120 companies’ management bodies has progressed, yet there is still some way to go before we achieve gender parity. Here at Ostrum AM, we therefore reiterate our commitment to the 30% Club France Investor Group, whose goals chime with our overall ESG policy.
Ostrum AM was one of the founding members of the group set up in 2020 with the aim of increasing women’s representation on SBF 120 companies’ management bodies. The group draws on specific dialogue with issuers to address this challenge, as it seeks to achieve female representation of at least 30% by 2025 as a short-term goal.
The 30% Club France Investor Group now comprises 11 investors and has just issued its first annual report. The publication disappointingly reveals that slightly under 70% of large French companies still do not have enough women in their management teams.
While progress was made in 2021, there were no significant leaps forward. At the current rate and without support from an investor coalition and the advice and support this provides for corporations – including the development of key performance indicators – it would take six to seven years to ensure that women occupy 30% of positions in SBF 120 companies’ management bodies.
We can observe that there is no “natural” gender diversity in companies, or any consistency in practices from one company to another: just one corporation successfully disclosed each of the KPIs suggested, while 23 companies are identified as laggards in this respect. With this in mind, it is crucial to pursue dialogue and monitor efforts with a view to raising awareness and implementing concrete action plans.
Further steps will be taken in 2022 to build on the various actions taken so far, and Ostrum AM is entirely committed to the group’s initiatives, which align with our own engagement efforts in favor of both gender diversity and equality in the workplace.
1. Key Performance Indicators are used to set a comprehensive company strategy and develop the goals targeted. The 11 KPIs suggested by the 30% Group focus around 11 themes i.e. governance, talent attraction, job quality, promotion, retention, work-life balance, equal pay, sexual harassment, supply chain, certification/audit and women empowerment principles.