More women at the top of African listed companies than Americans

Diversity Policy

BNP Paribas AM wants more women in senior positions. To achieve this, it uses target numbers. In the United States, Europe, Australia, New Zealand and South Africa, BNP Paribas Asset Management (AM) wants at least 30% women on boards of directors. The asset manager is targeting 15% for Asia, South America, Africa and the Middle East.

If a company proposes a new male director at a general meeting, but there are still too few women on the board of directors, BNP Paribas AM votes against it. In 2021, the organization rejected the nomination of 37% of directors for this reason. In Asia, the asset manager was the strictest, as it started working with the 15% limit there for the first time. As a result, the asset manager voted against the appointment of 57% of the board members of Japanese companies.

Not only does the wealth manager clearly express his opinion through voting, but he also engages in discussions with companies. In 2021, BNP Paribas AM held discussions with 36 companies. Thirteen of them then adapted.

Diversity pays off

Having women on the board pays off. This is revealed by a study by the consulting firm McKinsey. Management teams in which more than 30% are women have better financial results than companies whose boards have fewer or no women.

BNP Paribas AM aims to have at least 40% women on boards by 2025. “When we get to 40%, we consider the job done,” said Michael Herskovich of BNP Paribas AM in a statement. previous interview.

Read more: Women-led businesses perform better financially, but diversity is not the norm. How? ‘Or’ What?