In a ground-breaking achievement for corporate Malaysia, women now occupy 30.6% of board seats in the nation’s top 100 public listed companies (PLCs) and nearly 25% across all PLCs on Bursa Malaysia. This feat, achieved by 1 June 2023, surpasses the 30% Club’s target by six months, heralding a promising future for gender diversity within the country’s corporate governance.
The 30% Club’s Triumph: A Closer Look
Spearheading Change
Dato’ Ami Moris, Chair of the 30% Club Malaysia and Advisor at Maybank Group, said, “The 30% representation is seen to be a tipping point in providing women leaders with an influential voice, and for boards to move closer to gender parity. The biggest jump in women on board representation was recorded from 2021 due to Bursa’s Listing Requirements for all PLCs to have at least one woman director by 1 June 2023, supported by the collective action of leaders of Diversity, Equity and Inclusion (DEI).”
DEI and Environmental, Social, and Governance (ESG) Alignment
The 30% Club recognizes the crucial role of DEI in serving ESG imperatives. Dato’ Ami pointed out that diverse boards outperform others and are forward-thinking in achieving climate action goals. Investors are also beginning to scrutinize boards for their diversity in line with the growing global emphasis on ESG considerations.
Strategic Focus and Future Ambitions
Three Pillars of Success
The continued triumph of the 30% Club in Malaysia is built upon three strategic pillars:
- Activate Pillar: Leading 51 corporate advocates towards a robust DEI initiative.
- Influence Pillar: Engaging stakeholders to embed DEI in public policies, with collaborations like the one with the Institutional Investors Council (IIC).
- Enable Pillar: Mentoring and securing board positions for women through initiatives such as the Board Mentoring Scheme, in collaboration with PwC.
Next Steps towards Gender Parity
The 30% Club’s next ambitious goal is achieving parity between men and women across all PLCs by 2030, inspired by the UK where women hold nearly 40% of FTSE100 companies’ board seats.
New Leadership and Resources
A Fresh Steering Committee
Dato’ Ami said, “The skills and experiences of the new steering committee and professionals reflect the intensity of the 30% Club’s work going forward. On this note, I wish to thank the previous committee members for their dedication and invaluable contribution in laying the foundation for success. They have played an instrumental role in shaping the direction of the Malaysian chapter of the 30% Club, and serve as an inspiration to all of us. They shall remain as our stalwart advocates.”
The 30% Club Malaysia has announced a new steering committee, effective 1 July 2023, with distinguished members leading different pillars including Activate, Influence, and Enable Pillars.
Creative Collaboration with TBWA\Malaysia
Further strengthening its efforts, the 30% Club has engaged TBWA\Malaysia, renowned for creative and campaign initiatives, reflecting the intense focus on the club’s future endeavors.
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A Bright Future for Gender Diversity
This landmark achievement in gender diversity within Malaysia’s boardrooms is not just a local success but a global inspiration. The 30% Club’s dedication and unwavering commitment to gender parity have propelled Malaysia into the spotlight as a leading advocate for diversity, equity, and inclusion. The journey continues, but the path has been illuminated with the promise of a more inclusive and equitable corporate landscape in the years to come.
