“Imagine a gender equal world. A world free of bias, stereotypes, and discrimination. A world that's diverse, equitable, and inclusive. A world where difference is valued and celebrated. Together we can forge women's equality. Collectively we can all embrace equity.”
- International Women’s Day
On the eve of International Women's Day [March 7th], the democratic government in Spain outlined a bill designed to boost the number of women participants in politics and business – further advancing gender equality in one of the world’s most influential governments. The newly developed bill, The Equal Representation Law, will apply a full gender parity to electoral lists, as well as inducing a 40% minimum rate of female representatives on both large businesses and associations board of directors.
"We need to take advantage of 100% of the female talent in our country to improve the productivity of companies and to have a stronger and more sustainable growth over time," stated Economy Minister, Nadia Calvino.
This bill is a new feat for female representation in international countries, and could push the boundaries into higher authoritative positions. Calvino has previously stated that she would not attend any more political or business events if women were not equally represented among the speakers, sponsors, hosts, or any other high title. She believes this bill will break the glass ceiling for international politics and put Spain ahead in leadership of gender equality.
When enacted, this law will require Spain’s businesses to have a minimum of 40% female management listed by July of 2024. Unlisted firms with more than 250 employees, and with an annual turnover of $53 million will have to comply and reach the stated target by 2026. According to a study, and survey conducted by McKinsey&Company, 35 listed Spanish companies showed that women made up only 9% of top management and 28% of board directors. This demographical share has not fluctuated since 2019, but this new bill could improve these statistics by up to 25%.
Celebrate the women in your life – March 8th is a day to honor and celebrate all the incredible women across the globe, fighting for change and equality – fighting for economic, social, cultural, and political achievements and advances.
Happy International Women’s Day!
