Non-financial information and diversity information

Authors: the Federation of Enterprises in Belgium, Eubelius, the Belgian Institute of Registered Auditors, the Belgian Association of Listed CompaniesThis explanatory note is intended to provide companies that fall within the scope of the Act of 3 September 2017 or companies who want to respond…

Law to guarantee women a minimum representation percentage in the board of directors

The law on quota of women in the board of directors has been adopted. At least one third of the board of directors must be of the opposite gender. The required minimum number is rounded off to the nearest whole number.

The law also contains sanctions which apply to members of the board of directors and newly appointed members respectively.

Companies must also provide an overview in the annual report of efforts made to ensure that at least one third of the members of the board are of the opposite gender.

New European Directive on gender balance on boards of directors

On 22 November 2022, the European Parliament formally adopted new EU legislation on gender balance on company boards. By 2026, listed companies shall have 40% of the under-represented gender among non-executive directors or 33% among all directors.