Europe has done a better job working to bring more women into boardrooms than the U.S. has, according to an analysis done by Bloomberg. Almost 37% of board seats in Stoxx Europe 600 companies were held by women last month, compared to 30% of directors in S&P 500 companies.
The average number of female directors in Europe was at four in August, compared with an average board size of 11. The Bloomberg Gender-Equality Index rose 2.3% in August, marginally underperforming the MSCI World Index, which was up 2.5%.
As companies look to improve their environmental, social and governance efforts, boardrooms are feeling the pressure to diversify their gender representation — and it appears that government regulation can be effective. According to Angela Berg, global diversity and inclusion consulting leader at Mercer, “more nations, especially in Europe, have implemented gender quotas for senior executives and boards, so they can benefit from more diverse points of view, drive change and enhance awareness of workplace gender issues.”