Therefore, as the European Women’s Lobby noted, we could be confident that Ms Reding follow through on this at EU level. We hope she will keep her word and also propose binding legislation at European level on the occasion of International Women’s Day on 8 March 2012. Let’s recall that last year on the same day, she launched a page on her website encouraging self regulation of companies. This meant that companies could sign a pledge and explain their strategies to voluntarily increase the number of women on their boards. However if voluntary regulation fails, Ms Reding promised to take decisive actions.
So where are we after one year?
The laissez faire approach of Ms. Reding has clearly failed. A paltry ten companies signed Commissioner Reding’s pledge. Women still only make up 12% of board members and 3% of boardroom chairs. The time has come for implementing binding legislation at European level. PES Women will push for the adoption of these strong measures. 30% of women in boards, as referenced in the Berlin Declaration, should only be a first step. The ultimate objective should be to reach at least 40% of women in boards of European companies by 2020, as stated in the report ‘Women and business leadership’ adopted by European Parliament’s FEMM Committee on May 2011.
With just over two weeks to go to international women’s day we must ask if Ms Reding is ready to take action at European level?
