About 30% Club Hong Kong
The 30% Club Hong Kong launched in March 2013 and is working to bring more women onto Hong Kong corporate boards by:
• raising awareness among chairs and business leaders of the benefits of gender diversity;
• inspiring debate and discussion;
• supporting initiatives to build the pipeline of women in executive and non-executive roles.
The 30% Club Hong Kong recognises that gender diversity is good for the overall effectiveness of the boardroom – and therefore is good for business. Besides benefiting companies, greater board diversity will also benefit Hong Kong. As a global financial centre with an abundant talent pool of highly qualified women, we believe Hong Kong is well positioned to become a leader in board diversity.
To support the achievement of a minimum of 30% Gender Balance at all senior decision-making tables across Hong Kong, including Boards and c-Suite.
Activate senior leaders
We engage Board Chairs and CEOs to drive change and support organisations in their diversity & inclusion endeavours, with a specific focus on gender.
Influence those with power to drive change
We influence on diversity-related topics working complementary to other initiatives.
Enabling future women leaders
We support the development of talent pipeline through board initiatives and networking opportunities.
% of Women on Hang Seng Index (HSI) Boards:
|Chair & CEO
|Korn Ferry (HK) Limited
|Market Leader, Hong Kong
|Senior Partner, Head of Asia
|Slaughter and May
|Group Chief Executive
The 30% Club is run by a Steering Committee that is made up of senior men and women
who volunteer their time and skills
Chief Risk Officer
Freshfields Bruckhaus Deringer
Chief Executive Officer
Chief Operating Officer
Tim Payne, Brunswick Group
The ‘Chair/Member’ group aims to recruit new 30% Club members and champions from among Hong Kong-listed company Chairmen, Vice Chairmen and CEOs, by identifying and engaging with those who support gender diversity on boards. The group works closely with Hong Kong family-controlled companies as well as private and SOE Chinese corporates.
Nasrine Ghozali, Oasis
The ‘Investors’ group aims to raise awareness of the importance of board diversity among institutional investors in Asia and to encourage them to advocate for better diversity on the boards of companies in which they hold positions. Institutional investors, particularly their corporate governance specialists, are in a unique position to lobby for change and advance the clear business case for better gender diversity on boards.
Angelina Kwan, Stratford Finance
The ‘Regulatory’ group focuses on informal engagement and discussion with Hong Kong’s various regulatory bodies including HKEx and its Listing Committee as well as the Securities and Futures Commission (SFC) to explore the best and most appropriate regulatory interventions and consultations to achieve the proportion of women on boards in Hong Kong. The working group will identify and (where appropriate) lobby for achievable, concrete, incremental progress relating to the oversight of issuers and relevant provisions in the corporate governance code (e.g. when there are public consultations).
Fiona Nott, The Women’s Foundation
The External Advocacy group works closely with other groups to plan signature events of all kinds for the 30% Club Hong Kong, for Women to Watch, and for other stakeholder groups. Signature events include the annual 30% Boardroom Lunch, other symposiums and Chair/CEO level intimate gatherings. The group identifies and invites appropriate participants, sponsors and speakers to the events with a view toward raising the profile of the 30% Club HK’s goals and campaigns in the business community. It also advises and executes on meaningful campaigns to communicate the 30% Club HK’s philosophy and goals, establish the case for board diversity in Hong Kong, celebrate success and progress, and raise the awareness of how Hong Kong is performing relative to other global financial centres.
Fiona Nott, The Women's Foundation
The ‘Pipeline’ group identifies and curates lists of high potential board-ready female candidates in the Hong Kong community; this database numbers over 400 women already. This group, driven by The Women’s Foundation and other key supporters, holds events that make these women feel part of a strong community and encourages 30% Club HK member firms to emphasize the importance of the executive pipeline, allowing women to rise through senior management and into board roles.
Janet Ledger, Community Business
‘Research’ provides or arranges to have partner organisations provide baseline research on our 30% Club Hong Kong members and other relevant data that is either helpful to the Steering Group or for wider publicity purposes. The Research group will work closely with the Publicity group to identify newsworthy information and trends in the region.
30% Club HK and The Women’s Foundation release video to highlight the lack of gender diversity on Hong Kong Boards
The low number of women on company boards remains a pressing issue in Hong Kong. Along with the 30% Club HK, The Women’s Foundation have been long time advocates for more diverse corporate boards. Echoing Hong Kong Chief Executive Carrie Lam’s strong call on all listed companies to appoint more women on their boards in her annual policy speech last month, we have taken a fresh approach to address the issue – presenting a light-hearted video “Flipping the Script”, available in both Cantonese and English. With this video, we aim to emphasise the fact that women are underrepresented in Hong Kong boardrooms, highlighting the urgent need for greater public awareness around increasing gender diversity on boards.
Please click here for a copy of the full Press Release
30% Club Hong Kong Investor Group
The 30% Club Hong Kong Investor Group (Run by the Board Diversity Initiative) is a group of asset owners and asset managers working together to improve board diversity among Hong Kong listed companies. As investors, we aim to engage in constructive dialogue with our investee companies’ boards and senior management to share the importance of gender diversity at the top level, and to influence the realisation of this goal. In addition, the Investor Group aims to improve the dialogue of institutional investors as a whole by building and sharing best practices for achieving gender diversity at the top of a company.
Members & Supporters
The following investors have demonstrated their commitment to improving Board Diversity at Hong Kong listed companies by becoming Signatories to the Statement of Intent:
APS Asset Management, Aurigin Capital Management, BlackRock Management, East Capital, Federated Hermes, Fidelity International Ltd, Hazelview Investments, HSBC Asset Management, Impax Asset Management, J.P. Morgan Asset Management JK Capital Management, Manulife Asset Management, Oasis Management, Oxbow Capital Management, Petrel Capital Management and Rays Capital.
We extend our deepest thanks to our supporters, and acknowledge ongoing support from the following organisations:
100 Women in Finance, The Alternative Investment Management Association (AIMA), Community Business, The Hong Kong Investment Funds Association (“HKIFA”), The Karen Leung Foundation.
We believe gender diversity on boards encourages better leadership, better corporate governance and ultimately increases corporate performance and global competitiveness for both companies and their shareholders. While research continues to point to benefits of improving diversity on boards and in senior management, Hong Kong has continued to lag behind other major financial centres. As investors we can contribute to improving diversity by pledging to engage with our investee companies in Hong Kong and hold them accountable on all matters related to diversity and gender representation.
As investors, we aim to engage with Hong Kong’s publicly-listed companies and encourage them to commit to better gender diversity at all levels of their organisations starting with the Board of Directors.
As investors, we believe diversity is paramount for best decision making. As investors, we believe better gender diversity in boardrooms of Hong Kong listed companies would set the tone from the top. As investors, we want to contribute to the needed and urgent collective effort to improve diversity on Hong Kong’s boards.
For more details, please visit: https://www.boarddiversityhk.org/
The Investor Group has expressed its principles and approach to promoting diversity in the 30% Club Hong Kong Investor Group Statement of Intent. To become a member, investors sign the 30% Club Investor Group Membership Form.
Nasrine Ghozali, Oasis Management – firstname.lastname@example.org