The president of the CNMV factors out that the numbers of ladies in senior administration positions are “poor”: “The objective is by no means achieved” | EUROtoday

Rodrigo Buenaventurapresident of the National Securities Market Commission (CNMV), has outlined as “stunted“the numbers of ladies in senior administration positions in listed firms and has urged motion within the face of the “insufficient speed” on this area. More particularly, Buenaventura has referred to the speed of 23% of ladies in senior administration positions that was reached in 2023. “The objective has not been achieved by any means,” the economist has insisted.

“We must all react to the situation if we do not want the councils [de administracin] become certain islands of diversity in the midst of power and government structures where parity still does not appear to be achievable in the short term,” he acknowledged.

However, the president of the CNMV has positively valued the progress made within the firms of the IBEXthe place the feminine presence on the boards of administrators has reached 40%above the minimal required by the European Union (33%).

Buenaventura has additionally highlighted that in current months a public session has been carried out to replace the 2017 technical information on audit commissions, for which there has not been a lot of responses from the sector: “Personally, I would have expected a greater number of responses due to the relevance of the topic, but the truth is that we have only received eight.” These replicas are being research materials for the most recent model of the information, which shall be accepted “in the coming weeks” by the CNMV council.

Buenaventura's intervention, by way of a recorded video, passed off in the course of the XII version of the Counselor Forum which was held right now on the headquarters of the IESE Business School de Madridand has been moderated by completely different firm spokespersons KPMG. Among the matters on the agenda of the boards of auditing firms, sustainability has stood out as one of many main issues. In relation to this side, the president of the CNMV has taken the chance to focus on the “great international effort” to develop new audit requirements in issues of sustainability. He has additionally expressed that the CNMV is pending the nationwide transposition of the European CSRD Directive, which is able to permit the unification and homogenization of the company reporting framework on sustainability to which Spanish issuers and a few giant Spanish firms, together with non-profits, are topic. quoted.

Finally, and in relation to the brand new laws, Buenaventura has drawn consideration to the data verification course of (assurance): “If the sustainability information is not verified by a third party independent of the company,” he exemplified, “that information is not going to be credible, and if it is not credible, it is not going to generate the confidence in investors that we need generate; ah, we have a lot at stake as a society and as a financial system.

Also Juan José Canopresident of KPMG, had some words for trust during his speech at the opening of the Forum: “There could be no development if there isn’t any belief“.

Together with Cano, Joaquin Manso, director of EL MUNDO, was one of the protagonists of the opening event of the Forum. In his speech, Manso recalled the last editions of the event, which coincided with electoral processes. Manso made reference to the next electoral event for Europeans this Sunday: “Europeans purchase true that means once we reside our widespread issues as shared.”

During the Forum, several of the topics that occupy the agenda of the councils have been discussed, such as the introduction of the latest technologies and generative AI in company strategies, the role of audit committees, or the impact that it has generated. in companies the CSRD, which establishes new directives in the treatment of corporate information on sustainability. To address these issues, we have had the assistance Juan José Casado (Repsol), Rita Estvez (Lnea Directa and Moralbanc), Angel Rivera (Santander), the Silvia Iranzo (Official Credit Institute), among other figures in the Spanish business community.