Research studies have consistently demonstrated that companies with diverse boards enjoy better corporate governance, financial, risk management and social return outcomes that drive business success.
Yet women are still largely under-represented on corporate boards, making up 24 per cent of company boardrooms around the globe. Although this figure is higher than the 15.1 per cent in 2015, the rate of increase has slowed for three of the past four years. Progress remains slow in many parts of Asia Pacific, according to research from Credit Suisse Research Institute. Female board representation ranges from 34 per cent in Australia and New Zealand to a lowly nine per cent in South Korea. Positive growth is seen in Australia, New Zealand, Singapore and Malaysia. However, the progress in the major Asian economies (China, India, Japan and Korea) has been sluggish in comparison.
Separate research from IFC has identified that only 9.5 per cent of board directors on the Colombo Stock Exchange (CSE) listed companies in Sri Lanka are women. In a bid to promote boardroom diversity and establish a network of existing and prospective women directors, the Women Corporate Directors Foundation (WCD) – the largest organisation of women corporate board members globally – recently launched its first local chapter in Sri Lanka. The project aims to provide best practices in corporate governance to members and to increase the number of women who serve on corporate boards in Sri Lanka and Asia Pacific. As a WCD member, Sri Lankan women directors will have better access to trends and expertise from global economies, helping strengthen their knowledge when advocating for improved corporate governance practices for businesses.
Meanwhile in Japan, gaming giant Nintendo has marked its intention to increase the number of women in manager roles at the company. Currently only around four per cent of manager positions are held by women at Nintendo’s Japanese headquarters. The company does not have specific targets for the appointment of women to managerial positions but said it is essential that it leverages the talents of a diverse workforce by developing an environment where employees of diverse backgrounds can maximise their potential.
Ethical Boardroom is proud to announce the winners of “Best Corporate Governance” in their respective industry sectors across Asia and Australasia for 2021. The awards recognise the outstanding leadership from boards who have raised the bar to ensure that strong corporate governance plays an essential part in protecting and enhancing long-term value for all stakeholders. Our awards program is a vital part of our continuing mission to elevate corporate governance standards globally. For those who have made it to the top of the mountain for 2021, we salute you for leading the way
ASIA COMPANY AWARD WINNERS
|Best Corporate Governance||Financial Services||DBS Bank|
|Best Corporate Governance||IT Consultancy||TATA Consultancy|
|Best Corporate Governance||Telecom||Globe Telecom Inc|
|Best Corporate Governance||Conglomerate||Keppel Corporation|
|Best Corporate Governance||Real Estate Developer||Malaysian Resources Corporation|
|Best Corporate Governance||Transportation & Logistics||Malaysia Airports Holdings|
|Best Corporate Governance||Food & Beverage||Del Monte Pacific|
|Best Corporate Governance||Industrial Services||Petronas Chemicals Group|
|Best Corporate Governance||Construction||Sunway Construction Group|
AUSTRALASIA COMPANY AWARD WINNERS
|Best Corporate Governance||Telecoms||Telstra Corporation|
|Best Corporate Governance||Construction||Lendlease Group|
|Best Corporate Governance||Electric Power Generation||Meridian Energy Ltd|
|Best Corporate Governance||Financial Services||Westpac Group|
|Best Corporate Governance||Retail||Woolworths Group Ltd|