Press Release – Pacific PSDI
The average proportion of women directors in the Pacific rose from 21% in 2021 to 26% in 2024, just above the 2023 global average of 23%. During the same period, the average proportion of women chief executive officers (CEO) in the Pacific rose from …
(SYDNEY, AUSTRALIA – 1 August 2024) – The proportion of women in business leadership in the Pacific is steadily increasing, but persistent barriers slow the ideal rate of progress, according to a new report published today by the Asian Development Bank’s (ADB’s) Pacific Private Sector Development Initiative (PSDI).
Leadership Matters 2024: Benchmarking Women in Business Leadership in the Pacific expands on the baseline established in the 2021 Leadership Matters report to track advancements in women’s representation as board directors, board chairs, deputy board chairs, and chief executive officers across 14 Pacific countries.
“The new Leadership Matters report finds that women’s representation in business leadership in the Pacific has generally risen since 2021 and continues to exceed global averages,” said the report’s author, PSDI Economic Empowerment of Women Expert, Sarah Boxall. “This is a promising trend toward more inclusive and diverse corporate cultures in the region, driven by a mix of organizational policies, greater family and community support for women’s leadership aspirations, and a cohort of talented and ambitious women who are rising through the ranks and supporting others to do the same.”
According to the report, the average proportion of women directors in the Pacific rose from 21% in 2021 to 26% in 2024, just above the 2023 global average of 23%. During the same period, the average proportion of women chief executive officers (CEO) in the Pacific rose from 13% to 20%, well above the global average of 6%.
The Cook Islands, Kiribati, Samoa, and Tuvalu stand out as having higher proportions of women directors and CEOs than most countries in the region, while Fiji and Papua New Guinea are the only countries in the region to not meet or exceed the regional average on any measure.
“A myriad of global and local influences and social norms continue to shape Pacific women’s aspirations and opportunities for leadership, and entrenched gender roles, particularly those around caring responsibilities, remain a significant challenge,” said Ms Boxall. “While we celebrate the improvements in this updated report, many of the gains since 2021 have been modest and have been uneven across countries, sectors, and organization types.”
“We must also recognize the persistent gender disparities these figures reveal and continue to strive for equal representation in leadership, both globally and in the Pacific.”
Despite the improvements recorded, men still hold around three out of every four board director positions and four out every five CEO positions. Meanwhile, almost one-quarter (24%) of all boards still have no women directors and progress in senior board positions has been notably slow, with only 12% of board chair roles and 18% of deputy board chair roles held by women.
The report draws on data from 397 organizations across ADB’s 14 Pacific developing member countries (DMCs), as well as insights from more than 350 Pacific business leaders, gathered through a survey and in-depth interviews.
PSDI is an ADB technical assistance program undertaken in partnership with the governments of Australia and New Zealand. It supports ADB’s 14 Pacific DMCs to improve the enabling environment for business and to achieve inclusive, private sector-led economic growth, including through reforms designed to enhance the economic empowerment of women.
LEADERSHIP MATTERS 2024 KEY FINDINGS
Pacific regional averages for women’s representation in business leadership:
Board directors: 26% in 2024, UP from 21% in 2021.
Board chairs: 12% in 2024, UP from 11% in 2021.
Deputy board chairs: 18% in 2024, DOWN from 19% in 2021.
Chief executive officers: 20% in 2024, UP from 13% in 2021.
Board composition in the Pacific:
Boards with no women directors: 24% in 2024, DOWN from 32% in 2021.
Boards with more than 0% and fewer than 30% women directors: 32% in 2024, DOWN from 41% in 2021.
Boards with at least 30% and fewer than 50% women directors: 28% in 2024, UP from 17% in 2021.
Boards with gender parity or greater than 50% women: 15% in 2024, UP from 11% in 2021.
Content Sourced from scoop.co.nz
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