Left Spanish government presented yesterday, the day before International Women’s Day, a bill aimed at increasing the presence of women in politics and business and further promoting gender equality in one of the most progressive countries in the world in this regard. The Equal Representation Act implements the principle of full gender equality in the electoral rolls and will establish a minimum of 40 per cent representation of women on the boards of directors of large companies and trade union councils.

“We need to tap into 100% of the female talent in our country to boost business performance and drive stronger and more sustainable growth over time,” Economics Minister Nadia Calvino said after the cabinet meeting.

Calvino, who made headlines last year by saying she would no longer attend events unless women were equally represented among speakers, said the bill would break the glass ceiling that existed in the public and private sectors and make Spain is the leading country. country in terms of gender equality.

40% rate on the boards of directors of large companies and professional associations.

The law requires women to make up at least 40% of the board of directors of every listed company by July 2024. Unlisted companies with more than 250 employees and an annual turnover of €50 million or more will have to meet the target by 2026. the most uneven quota is observed in smaller enterprises with lower turnover.

These are stricter targets than those set by the EU directive, which requires women to make up 40% of non-executive directors by 2026, or 33% of all directors. The Spanish business association CEOE declined to comment until it learned the details of the proposal.

Sanchez’s initiatives

Sánchez, who has repeatedly described the Socialist-led coalition government as feminist and has promoted equality laws, transgender rights laws, and the politically controversial sexual consent law, is the prime minister of a government that — for the first time in the country’s history — has more women in the cabinet. than men, with 14 women ministers versus 8 men.