AXA Investment Managers says it will expand its gender diversity voting policy in order to improve governance standards.
From 2021, AXA IM will target listed companies in developed market economies where at least one-third of the Board of Directors is not gender diverse. Axa says the 33% diversity target will enable it to hold all companies in which it invests to the same standards of diversity, as well as advancing the issue of gender diversity in the developed world.
AXA IM will also be targeting listed companies in emerging market economies from this year, as well as Japan, where the Board of Directors does not comprise of a minimum of one female director (or 10% of the board for larger Boards).
AXA IM says it may also use its voting power at a company general meeting as a tool to address concerns at companies that fail to provide appropriate disclosure and measures on executive committee diversity and have no credible plan to address the topic.