Rate of Women on Public Sector Boards Stabilises Around 40%

In its meeting of 15 September, 2023, Luxembourg's Government Council (Cabinet) analysed the representation of women in the decision-making bodies of public establishments and companies (listed and unlisted on the stock exchange) in which the State holds stakes.

Since 2014, Luxembourg's Ministry of the Economy has been monitoring developments in the situation. As of 31 December 2022, the overall rate of women on the boards of directors of public establishments was 36.06% and it increased to 37.04% as of June 2023. During the first census dated 31 January 2015, the rate of women on the boards of directors was limited to 27.41%. A positive development of 9.63% in the space of 8.5 years was, therefore, noted in terms of the total number of representatives.

As of 30 June 2023, the rate of women representing the State on the boards of directors of public establishments was 43.01% compared to 41% a year ago and 30.34% as of 31 January 2015, representing an evolution of 12.67% over 8.5 years.

At the level of private law companies, the rate of women representing the State on boards of directors increased slightly compared to 31 December 2022 to 34.48% compared to 24.69% as of 31 January 2015, an increase of 9.79% over 8.5 years.

According to Luxembourg’s Ministry of the Economy and the Ministry of Equality between Women and Men, since 2020, the rate of women representing the State in public establishments has stabilised at above 40% while it has continued to increase slightly once again in private law companies.

Luxembourg’s Minister of Equality between Women and Men, Taina Bofferding, emphasised: “The participation of women in decision-making processes is the core of equality experienced in the world of work today and in the future! I welcome the many joint efforts made over recent years and note that we have consistently achieved our goal of 40% women on boards of directors with state participation since the mid-2020s and that we have even largely exceeded this target by reaching 43% in June 2023. At the private company level, we have also made progress and recorded an increase of almost 10% over the last eight years. I am convinced that in the very near future, we will all be able to cross the 40% mark in total [public and private] definitively and permanently.”

Luxembourg’s Minister of the Economy, Franz Fayot, added: “Diversity on boards of directors is on the one hand obvious in terms of equal opportunities and social responsibility, but also an asset for companies at an economic level. Indeed, a company can no longer ignore this principle of good governance if it wishes to attract talent and retain the loyalty of its customers who rely on respect for the principles of equality.”