Less than a quarter of SGX-listed issuers have disclosed plans to achieve board diversity: study
Only a few have also reported progress on their board diversity targets.
Not even half of 538 SGX-listed issuers with board diversity policy in place have published their targets (41%), provided plans and timelines (21%), and reported progress towards their targets (11%), data from a joint study SGX RegCo and Council for Board Diversity (CBD) showed.
“ The level of detail in disclosures varied significantly, consistent with it being the first year for such disclosures. We want more measurable progress in future, especially in quantitative aspects such as targets, plans and timelines. SGX RegCo will be closely monitoring how companies perform on this front,” said Tan Boon Gin, CEO of SGX RegCo.
Based on the study, 89% of the listed issuers have disclosed a board diversity policy.
Amongst sectors, the Consumer Non-Cyclicals, Real Estate and Financials performed well in their overall disclosures.
Of the largest 100 companies by market capitalisation, all but two disclosed their board diversity policy within the cut-off time for the study, with the last two companies disclosing in response to SGX queries.