Gender balance in the financial service sector

28.3.2013

Question for oral answer O-000037/2013
to the Commission
Rule 115
Sharon Bowles
on behalf of the Committee on Economic and Monetary Affairs

Equality between men and women is a fundamental principle of the European Union. It entails equal participation of men and women in decision-making, which has been identified by the Commission as one of the five priority areas for action in its ‘Strategy for equality between men and women 2010-2015’ of 21 September 2010, as well as in the Women’s Charter adopted on 5 March 2010.

On 14 November 2012, the Commission adopted a proposal for a directive on gender balance among non-executive directors of companies listed on stock exchanges, as well as a Communication on gender balance in business leadership.

While Parliament welcomes these initiatives, the practical outcome has been extremely limited and progress very slow. The current situation in the financial sector is alarming not only at the public level, with regard to the ECB and national central banks, but also at the level of financial institutions. On average, the percentage of women occupying influential positions in that sector continues to be very low.

Parliament is very concerned about this situation and has made persistent calls for the increased participation of women in decision-making. These include its resolution adopted on 13 March 2012 on equality between women and men in the European Union - 2011, and its decision adopted on 25 October 2012 on the Council recommendation for appointment of a Member of the Executive Board of the ECB.

1.  What specific steps does the Commission intend to take to improve the gender balance in all financial institutions, irrespective of whether these institutions are listed on stock exchanges?

2.  In addition to the above legislative proposal, how is the Commission planning to improve the gender balance regarding executive directors in the financial sector?

3.  Which concrete measures does the Commission foresee in order to encourage Member States to improve the gender balance in the boards of their national central banks?

Tabled: 28.3.2013

Forwarded: 4.4.2013

Deadline for reply: 11.4.2013