A Fine Gael TD says she's pushing for a "change in culture" with a new bill that would require businesses to have at least 40% female representation on their company boards.
Dublin Mid-West TD Emer Higgins will introduce the Irish Corporate Governance (Gender Balance) Bill 2021 this week, which would put in place the new gender quotas.
If passed, the legislation would require most companies and organisations (with some exceptions) to annually report on the gender balance at the board level.
It would require all firms to have 33% of their board members female within a year of the bill being enacted, increasing to 40% within three years.
Deputy Higgins - who previously had a senior role at PayPal - told Newstalk Breakfast the bill, if passed, would have a "direct impact" on companies.
She said: “At the moment, if you think of a board of directors, you’re more likely to think of a group of men than a group of women. That’s really a reflection of where we’re at in society.
“22% of board members in Ireland at the moment are women. I come from a corporate background myself, so I saw the difference first-hand that diversity and inclusion strategies make.
"I saw the difference first-hand that balance at the top makes. All the research backs that up.”
Deputy Higgins says the bill is the result of recommendations from the recent Citizens’ Assembly and a report from the National Women's Council (NWCI).
She said: “What we’d like to see is the companies that are getting there and showing leadership… being showcased to show they are leaders on this.
“I really think this is going to be good for women, society and business too.”
Change in culture
The Fine Gael TD acknowledged there are existing challenges with convincing enough people to commit to a board position.
However, she said there are supports and help out there for companies that find themselves in need of board members.
She said: “There are some really great women’s organisations where they actually have pretty much [already] vetted women who are board ready. There’s a huge talent and pipeline of female talent to tap into.
“There are an awful lot of women who want to be on boards, but who don’t really understand the path to get there - these jobs aren’t necessarily always advertised.
“It does mean a bit of a change in culture, but that’s exactly what I’m setting out to achieve here: a change in culture that I think will be better for equality and business.”
She said she has received positive feedback on the bill so far from fellow TDs, but she “really does hope” it receives cross-party support when it comes before the Oireachtas.
