NZX Regulation yesterday published its final Guidance Note to assist Main Board issuers wishing to develop and implement diversity policies.
It follows changes to the NZSX/NZDX Listing Rules introduced on 1 December 2012 requiring Main Board listed issuers to include diversity reporting in their annual reports.
In annual reports covering balance dates ending on or after 31 December 2012 issuers with equity securities quoted need to provide:
A breakdown of the gender composition of their Boards of Directors and Officers
If they have a formal diversity policy, an evaluation of their performance with respect to it.
The NZX Guidance Note sets out some suggestions as to the content of a diversity policy and examples of measurable objectives issuers may wish to set for themselves to measure their progress against their diversity policy.
NZX Head of Regulation, Robyn Dey, commented: “We encourage issuers to read and consider this Guidance Note, which we have published to assist them to develop and implement diversity policies.
“NZX is pleased to have introduced the changes to listing rules to include diversity reporting in annual reports – we are confident this will encourage issuers to consider diversity as one of the tools to deliver quality decision making,” she said.
A copy of the final Guidance Note is available at NZX’s website:
https://nzx.com/market-supervision/rules/nzsx-and-nzdx-listing-rules
Also on the NZX website, issuers will find links to resources for those thinking about implementing a diversity policy. This can be found at: https://nzx.com/market-supervision/rules/nzsx-and-nzdx-listing-rules/diversity-rules-resources