NZX today published a revised guidance note on gender diversity reporting by listed issuers. The guidance is intended to provide issuers listed on the NZX Main Board with assistance in determining how to report the quantitative breakdown of the gender composition of directors and officers in the annual report.
The guidance is also designed to assist issuers who wish to develop and implement their own gender diversity policies and related measures, and sets out some suggestions as to the content of a diversity policy and examples of measurable objectives that issuers may wish to set for themselves to measure their progress against their diversity policy.
The guidance note has been updated to reflect the class ruling that was released today. That ruling clarifies that issuers must, at a minimum, report the number of male and female Directors and Officers at balance date, and not only disclose this information on a proportionate basis.
Under Listing Rule 10.4.5(j) NZX Main Board listed issuers are required to include in their annual report quantitative data on the gender breakdown of Directors and Officers at the financial year end, including comparative figures for the prior financial year end. The policy behind the rule is to provide information to allow investors to maintain an informed view of diversity as a factor relevant to an Issuer’s expected performance.
Gender diversity statistics are calculated and reported by NZX quarterly and annually. A list of those reports is available at: https://www.nzx.com/regulation/NZXO/announcements
The guidance note is available at: https://www.nzx.com/regulation/listing-rule-guidance