This Tuesday, the Cabinet approved the Equal Representation in decision-making bodies law, an action by the Minister for Equality. Ana Redondo, described it as a “statement of intent.” Because equality is now a long way off and the glass ceiling often seems unbreakable. According to the latest figures of the National Institute of Statistics (INE), the proportion of women in senior management positions, excluding directors, in 2022 was 21.73%. There are 218 of them. That is, 2% more than in 2021, which already means 2% more than in 2020. But this is not enough. The norm, which has now receded due to the July 23 elections, requires multiplying this percentage by two to reach at least 40% of women. within the Government, such as the boards of directors of large corporations, electoral candidates, and constitutional bodies..
So, in business, the goal of the law is to reach this 40% of women at the helm of any company. Listed company or public benefit organization with more than 250 employees and more than €50 million in assets The executive branch has therefore received a call from the EU Council, which at the end of 2022 has approved a European directive that will require at least 40% of non-executive directors of listed companies (excluding CEOs) to be “members” from 2026. is one step ahead. from the less represented gender.”
women on mountain goat
Now, Ibex 35 has 98 women in its senior management, 23.17% of them of your total. This rate increased by only 1% in one year. And women are equally important in companies that bill more and those that bill less. This rate is 20.20 percent for those closing the financial year with an annual income of 500 million euros. Where the figure is lower, directives represent 21.05%.
According to the latest data collected, two companies in the Spanish selector have no women in their senior management in 2022. Acerinox and Naturgy. The one with the most numbers was Acciona with 12. However, this number accounts for only 26.09% of the total. So it’s not the most equal in percentage terms. Aena with 66.67%. This is followed by Inmobiliaria Colonial with 50%. As a result, last year, only five of Spain’s selective companies had over 40% of women in their senior management.
The 35 companies with the largest market capitalization will need to implement the new rule From 30 June 2024. Those with capital over €500 million will need to do so from June 30, 2025. Those who bill less will have more time. Until June 30, 2026. Large but unlisted companies will need to meet the 33 per cent women target by this deadline, gradually increasing this to 40 per cent by the end of June 2028.
12 female ministers versus 10 male ministers
Whichever party comes to power, the percentage of ministers in the government must be equal. Each gender will have to take a 40% share of the implementation of the law. Currently, there are 12 ministers compared to the 10 ministers that make up the executive. But in Congress the majority reverses: 196 men (56%) compared to 154 women (44%). Despite this, the percentage has already been met.
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The reform will apply to all electoral processes: general congress, regional and municipal elections, and elections of members of island councils and councils and deputies of the European Parliament. This would also be true if Senate candidates are grouped into lists. And they will become mandatory zipper listsCandidates consisting of persons of both sexes, arranged alternatively.
Finally, it will be valid for persons holding the highest and administrative bodies, both State Undersecretaries and undersecretaries or general directorates. each gender cannot exceed 60% and cannot be less than 40% Within the scope of every ministry. The situation is the same in the corporate public sector. Equality will also be guaranteed in the boards of directors of Professional Associations and General Councils. These will need to apply the criterion from June 30, 2026.