Sims Limited, a global leader in sustainability and an enabler of the circular economy, today announced its support for industry super fund HESTA’s 40:40 Vision to increase the proportion of women in senior leadership across Australia’s largest listed companies to at least 40 percent by 2030.
The number of women in leadership has flatlined with just 30 ASX300 companies having at least 40 percent women in executive leadership in 2020, according to Chief Executive Women’s latest census on ASX300 senior executives.1
We’ve taken the #4040VisionPledge – and we’re calling on all #ASX300 companies to do the same.
Research2 clearly demonstrates organisations that set quantitative composition targets for executive leadership are more likely to achieve balanced representation of men and women at this level.
Workplace Gender Equality Agency and the Bankwest Curtin Economics Centre research3 shows that an increase in the share of female ‘top-tier’ managers by 10 percentage points or more led to a 6.6 percent increase in the market value of Australian ASX-listed companies, which is worth the equivalent of A$104.7 million.
By signing up to 40:40 Vision, Sims Limited is pledging its commitment to achieve gender balance by 2030 and putting diversity targets and plans in place to drive and embed this change across the company. This will include:
“Sims Limited recognises, and has been committed to, the business and social importance of achieving gender diversity,” said Alistair Field, CEO and managing director at Sims Limited. “In fiscal year 2022, we met our goal to have 25 percent of our female employees in executive and senior leadership roles – two years earlier than initially anticipated – and achieve gender balance on our Board of Directors. Participating in the 40:40 Vision is just another way of furthering this commitment and ensuring that we continue to hold ourselves accountable to these targets, as well as our target to close the gender pay gap and be transparent about our progress.”
To learn more about Sims Limited’s commitment to diversity, equity, and inclusion, visit https://www.simsltd.com/life-at-sims/dei.
1 Chief Executive Women ASX300 Senior Executive Census 2020 Report