New data shows the number of women on company boards has increased in recent years as institutional investors have pushed for more diversity.
By
For Observer
Photo by Annette Riedl/picture alliance via Getty Images
New data suggests institutional pressure to increase gender and racial diversity on company boards in recent years was effective.
A majority of S&P 500 companies now report more than a third of their board positions are held by women, according to data from proxy advisory firm Institutional Shareholder Solutions ESG, an investment arm focusing on Environmental, Social, and Governance issues. ISS ESG has documented a consistent uptick in the number of women represented on U.S. boards over the past three years, according to a new report released today (Nov. 7), based on a survey conducted at the end of June.
A super-majority of companies in the S&P 500 are now 25 to 40 percent female, according to the report, meaning there are between three to five women on the board (the average S&P board is made up of 11 total members). More than 400 S&P 500 companies had at least three women on their board as of June 2022, up from 343 in 2020.