Women: Board Membership

Baroness Howe of Idlicote Excerpts

Monday 10th March 2014 Lords Chamber

[Baroness Northover]

My noble friend is absolutely right. I do not think that there is a dearth of talent; it is a matter of making sure that those people end up on boards. There is a lot that we ourselves can do. As I did in the debate on International Women’s Day last Thursday, I should like to mention the two companies in the FTSE 100 that have not yet appointed women. Last year, there were five; significantly, two dropped out of the FTSE 100 and one of them—the one that I mentioned—has now appointed a woman. There are two left: Glencore Xstrata and Antofagasta. Perhaps I may point out that Glencore was speedy enough to seek help from the United Kingdom Government when it was trying to finalise a deal overseas. I quote from it:

“We seek to apply best practice, ensuring that our approach is up-to-date and relevant”.

Hmm. I come to Antofagasta, which is Chilean based. Tomorrow, Chile swears in as its new president Michelle Bachelet, the formidable former head of UN Women, so I think that we have a pincer movement here.

[Baroness Howe of Idlicote (CB)]

My Lords, can the Minister tell us to what extent she and the Government believe that it is the yearly reports that are required on progress from each of the companies involved in this scheme that have had a major effect in getting the continuous stream of improvements, although I thoroughly agree with her that there is still a long way to go?

[Baroness Northover]

The noble Baroness is right that transparency and reporting are absolutely key. She will know that Charlotte Sweeney has just reported on the voluntary code among those who are recruiting for those positions. She notes that only 25% of those headhunting firms even mentioned this on their websites, so they themselves have a long way to go.