With new analysis showing ASX200 companies with more women on their boards outperform those with less or none, the Australian Greens are calling for government to get on board.
Launching the Infinitas and Centre for Gender Economics and Innovation Gender Index in Sydney today, Senator Larissa Waters, Australian Greens spokesperson for women, said:
"Today's analysis shows more women on boards are not only good for gender equality but also for business.
"The index of ASX200 companies with women making up at least a quarter of directors, exceeds the performance of ASX200 companies generally by 2 per cent per annum and outperform all-male boards by more than 7 per cent per annum.
"It makes sense that gender-balanced boards and high performance go together. Boards full of diverse life experiences can allow for better decision making and stakeholder engagement.
"It's time for government to get on board.
"The Greens are calling for preferred supplier status to be given under federal government procurement guidelines for companies with gender balanced boards.
"And government boards need to set a better example.
"The boards within the Minister for Women's own portfolio, Prime Minister and Cabinet, are among the worst with 70 per cent of new appointments in 2013-14 being men.
"The Abbott Government is failing to meet its own target of 40% women on government boards.
"Government boards provide a crucial stepping stone for women on to corporate boards, since many women get their first director experience on a government board," Senator Waters said.