30% Club Hong Kong Chapter’s Post

𝗦𝗲𝗶𝘇𝗶𝗻𝗴 𝘁𝗵𝗲 𝗠𝗼𝗺𝗲𝗻𝘁𝘂𝗺 – 𝗛𝗲𝗹𝗽 𝗨𝘀 𝗔𝗰𝗵𝗶𝗲𝘃𝗲 𝗚𝗲𝗻𝗱𝗲𝗿 𝗣𝗮𝗿𝗶𝘁𝘆 𝗼𝗻 𝗛𝗞 𝗕𝗼𝗮𝗿𝗱𝘀 The Women's Foundation has been a staunch advocate for more diverse corporate boards since we launched the 30% Club Hong Kong in 2013. The board gender diversity percentage for the HSI is still at only 19% with only one issuer still to meet the no single gender board requirement. When all issuers meet the no single gender board requirement it will have a minimal impact on the overall percentage of women on boards in Hong Kong. 𝗪𝗲 𝗺𝘂𝘀𝘁 𝘀𝗲𝗶𝘇𝗲 𝘁𝗵𝗲 𝗺𝗼𝗺𝗲𝗻𝘁𝘂𝗺 𝗮𝗻𝗱 𝗮𝗶𝗺 𝗳𝗼𝗿 𝟱𝟬% 𝘄𝗼𝗺𝗲𝗻 𝗼𝗻 𝗯𝗼𝗮𝗿𝗱𝘀. 𝗧𝗼 𝗴𝗲𝘁 𝘁𝗵𝗲𝗿𝗲, 𝘄𝗲 𝗻𝗲𝗲𝗱 𝗯𝗼𝗹𝗱𝗲𝗿 𝗿𝘂𝗹𝗲𝘀 𝘁𝗼 𝗿𝗲𝗮𝗰𝗵 𝟯𝟬% 𝗯𝘆 𝟮𝟬𝟮𝟳. We warmly welcome Hong Kong Exchanges and Clearing Limited (HKEX)’s recent Consultation Paper on Corporate Governance Code covering a range of important corporate governance issues. However, we strongly urge HKEX to go further and include the following elements in the Code: 1. Extend the no single-gender boards rule to 30% representation of women on boards by 2027, with the aim of parity. 2. Require issuers to now set a target of at least 30% board gender diversity by 31 December, 2027 in preparation for the extension of the no single-gender board rule. 3. Clarify that the requirement to disclose workforce diversity policies must include measurable objectives and targets of 30% female representation at senior management level by 31 December, 2027. This is an essential means of building a pipeline for diverse board talent and to achieve overall diversity among issuers in Hong Kong, See the summary of our main points below. Please use any of our material if useful. We urge each of you to carefully read the Consultation (https://lnkd.in/gcsJ2bWA) and our guidance and submit your organisation’s and / or your individual responses on or before 𝗙𝗿𝗶𝗱𝗮𝘆, 𝗔𝘂𝗴𝘂𝘀𝘁 𝟭𝟲, 𝟮𝟬𝟮𝟰. #twfhk #boarddiversity #genderequality #DEI #ESG

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