FINDINGS from SUSTAINIFY
Check out what we have found so far
in making a rating of listed companies and
their Corporate Social Responsibility
GENDER BALANCE in the C25 COMPANIES
2018 & 2019
Corporate Social Responsibility is popularly reduced to 3 Ps - People, Planet & Profit.
In other words it’s about how well a company can make a profit in a responsibly manner.
In 2018 Sustainify started working on rating listed companies on their corporate social responsibility – so investors can make responsible investments.
As part of the rating of listed companies Sustainify started by looking at the P for People and the gender balance in the decision-making layers - more precisely the boardrooms and top management.
We start off with the 25 biggest and most traded companies on the Copenhagen Stock Exchange (Nasdaq Copenhagen) in Denmark - also called C25.
When it comes to Chairman of the Boards in the C25 companies we found no female Chairmen in 2018 - but in 2019 this changed to 4 %.
That is one female and 24 male Chairmen of the boards.
When it comes to CEOs in the C25 companies we found 8% female in both 2018 and in 2019 - so no change.
That is 2 female and 23 male CEOs.
In Executive management in the C25 companies we found 16% women in 2018 and 14% in 2019. That's a decrease of 2 percentage points in the overall gender balance - we went from 23 women out of 144 people to 21 women out of 148 people.
In 2018 women made up 16% of the executive management in all the C25 companies combined but in 2019 this changed and fell to 14%. The consequences of this drop of 2 percentage points can give future challenges in the long run.
In the board of directors Sustainify found 242 board members in all C25 companies together in 2018. 68 of them were women – approximately 28%.
Executive management is a popular pipeline for hiring new board members and when the gender balance in this pipeline isn't changing for the better it might cause problems in the future.
Therefore the imbalance in the executive management might show us the future in the boardrooms - if this is a trend and the beginning of a future decline.
In 2019 all there is missing is 48 women in executive mangement positions.
In 2019 Sustainify found 245 board members all together where 76 are women making it approximately 31% showing a collective increase of 3 percentage points.
Sustainify will continue to track the C25 companies and their gender balance so investors can see their development and use it when assessing a future investment.
Take a look at the top 5 companies when it comes to gender balance in executive management & board of directors in percentage - and see the development from last year.
The top 5 best performing companies on gender balance in the board of directors are Pandora, Tryg, ISS, Nordea Bank and DSV.
Pandora and Tryg both reached a 50/50 gender balance in their board rooms - which is an improvement from last year. Out of the 25 biggest and most traded companies on Nasdaq Copenhagen only these two companies reached a gender balance.
ISS is also in the top 5 of best performing companies when it comes to gender balance in their board of directors. ISS is considered balanced because they have an uneven number of board members - 4 out of 9 are from the underrepresented gender. ISS has reached 44% in 2019 - an improvement from 2018.
Nordea Bank did better last year when it comes to gender balance in the board room and are at 42% in 2019 - they are missing one woman in order to reach gender balance.
DSV has improved their gender balance in the board room from 2018 to 42% in 2019 - reaching 3 out of 7.
Here you can see the rating of all the C25 companies.
Below you can see all the C25 companies and their performance on gender balance in both Board of Directors and in their Executive Management.
If you would like to see the data behind - you can find it here.
The top 5 best performing companies on gender balance in executive management are Genmab, Novozymes, Sydbank, FLSmidth & Co and Tryg.
Although Genmab has the highest number of women in executive management - it is less than what they had last year and they are now missing one woman in order to reach gender balance. They have 3 out of 8 of the underrepresented gender.
Both Novozymes and Sydbank have no change in their gender balance in executive management - which is at 33% for the both of them. Sydbank is considered balanced because of the uneven number - they have 1 out of 3. Novozymes has 2 out of 6.
FLSmidth & Co has improved their gender balance from 2018 - reaching 28% in 2019 in their executive management and are missing one of the underrepresented gender in order to reach balance.
Tryg also improved their gender balance in their executive management from 2018 to 2019 and improved to 25% - they now have 1 out of 4 and are just missing one woman.
Here you can see the rating of all the C25 companies.
If you want to learn more about the gender balance and what is required by law for the C25 companies in Denmark you can read more here - in Danish and from the authorities.
