Gender Equality in Corporate Governance: Sustainable Development and Profit Growth
2020 saw all-male boards disappear from the FTSE 350 for the first time ever. The crisis and pandemic have resulted in the introduction of increasingly strict equality and sustainable development requirements. For businesses to adapt to these new norms, they need to apply innovative approaches and adopt new ways of thinking and methods to running operations. Diverse management teams are becoming an essential component of successful businesses, and the practice of gender parity on corporate boards is gaining legitimacy the world over. According to the Mastercard Index of Women Entrepreneurs, 31.9% of business owners in Russia are women – the 6th highest figure in the world. That said, this achievement is still not always apparent in all sectors, and work remains to be done. How effective are legislative measures aimed at promoting gender parity? Do businesses with more women in senior management display better results? What role should competitive processes and associations play in addressing gender parity in company management?