Making equality a legal obligation
CABINET has been analysing the upcoming equality law, which has become known as the Ley de Paridad.
It will ‘establish the goal of having at least 40% representation of women on boards’ in the public and private sphere, said deputy PM Nadia Calviño. She said the legislation, currently at the draft stage, will guarantee effective equality in politics, public administrations and businesses.
Companies listed on the stock market will have to ensure that their boards have at least 40% female participation by July 1, 2024, according to the draft law.
They will have to ‘adjust their selection procedures’ to reach this objective.
Sra Calviño noted that at the moment representation does not even reach 30% on these boards – and is below 20% for women in top jobs.
Large companies not listed on the stock market which employ more than 250 workers or that have an annual turnover of more than €50 million will have until July 2026 to make
their adjustments.
The deputy PM stressed that the new law will ‘guarantee the participation of women in these decision making bodies’.
It will help to break the glass ceiling which exists for women in many spheres, she added, ‘consolidating Spain as one of the most advanced countries in gender equality in the world’.
Government spokeswoman
Isabel Rodríguez said the legislation will establish that equality has to exist at all levels of society, ‘especially in areas in which political and economic decisions are taken’.
The full name of the law is the Ley Orgánica de Representación Paritaria de Mujeres y Hombres en los Órganos de Decisión – the organic law of equal representation of women and men in decisionmaking bodies.