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BNP Paribas - Investing in women on the board
Best Practice
Promoter Information:
Abstract:
BNP Paribas Asset Management has implemented a comprehensive proxy voting system designed to promote gender diversity on the boards of directors within its portfolio companies. This global initiative is part of the company's broader commitment to fostering inclusive governance and gender equality across its investments. Key Features of the Proxy Voting System: Mandated Voting Policy: BNP Paribas Asset Management mandates voting against all director candidates of any company that lacks female representation on its board. This strict voting policy ensures that companies in which it invests prioritize gender diversity at the highest levels of leadership. Global Expansion: Since 2020, BNP Paribas Asset Management has expanded this approach across Europe, North America, Australia, and New Zealand. To support this initiative, the company developed a robust analytical system that assesses the composition of company boards, ensuring they meet gender diversity criteria. 20% Minimum Female Representation: The system is designed to automatically vote against boards with less than 20% female representation, reinforcing BNP Paribas Asset Management's stance on the importance of diverse leadership teams. 30% Gender Target: The company is committed to ensuring that the boards of its portfolio companies reach a minimum of 30% female representation, further advancing gender equality in corporate governance. Impact and Commitment to Gender Equality: BNP Paribas Asset Management’s proxy voting system is a proactive mechanism for driving change within the companies in which it invests. By holding companies accountable for their gender diversity, the initiative goes beyond advocacy and creates tangible impact in the corporate world. This voting strategy reflects BNP Paribas Asset Management’s dedication to equality and inclusive governance practices as core components of its sustainable investment philosophy. By setting clear diversity criteria and enforcing compliance through proxy voting, BNP Paribas Asset Management not only encourages companies to increase female representation on their boards but also contributes to shaping a more equitable and balanced business environment. Through this initiative, the company demonstrates leadership in ESG (Environmental, Social, and Governance) investing, promoting long-term sustainable development aligned with gender equality goals.
Keywords:
parity, equality, gender, diversity, governance
Dates:
Jan. 1, 2020 - None
Source Specificity:
Initiative/Practice/Project/Programme/Case Studies
Website:
https://mediaroom-fr.bnpparibas-am.com/
Power Domains:
Economic
Methods Tools:
Competence development, Monitoring, Benchmarking
Country:
FR
City:
International
Implementation Scale:
international
Language:
French
Other Links:
https://www.weps.org/sites/default/files/2020- 2/WEPs_GUIDANCE_Inclusive_boards_FR.pdf https://mediaroom-fr.bnpparibas-am.com/
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