Niamh Smyth
Question:134. Deputy Niamh Smyth asked the Tánaiste and Minister for Enterprise, Trade and Employment the progress made on the equality objectives of his Department specifically in relation to women. [11071/22]
View answerTuesday, 1 March 2022
Questions (134)
Written answers
My Department and its agencies are delivering on our gender equality objectives.
Balance for Better Business was launched in 2018 as an independent business-led Review Group established by the Government to improve gender balance in senior leadership in Ireland. It was created to make recommendations on how more women can be involved in decision-making at the top level of businesses in Ireland. The Review Group examines the gender mix within the governance and senior management of companies in Ireland and the issues which arise in connection with the appointment of company directors and senior management. They have set progressive targets to 2023 for the achievement of improved gender balance on the boards and senior management of these companies.
The Fourth Report of the Balance for Better Business Review Group was published on 13 December 2021. Important measures of progress noted in this report include:
- For all listed companies, as of 1 September 2021, 28% of directors are female, up from 14% in 2018
- ISEQ20 companies, at 31% female directors on average in September 2021, have exceeded the 2021 target (27%), a sizable improvement from 18% in 2018
- The 2021 target for female representation on boards of 27% (ISEQ20 companies) and 20% (other listed companies) has been met by 11 of the ISEQ20 boards and 10 of the other listed companies
- Of the 36 new board appointments made between September 2020 and September 2021, 15 (41%) of these appointments were female, up from 27% in September 2020
- Women on leadership teams of ISEQ20 companies increased from 16% in 2018 to 25% in September 2021, surpassing the 2021 target of 23%; and
- The gap between Ireland and the EU27 average for women on boards has continued to narrow, from 7.7 percentage points in 2018 to 0.9 percentage points 2021. Ireland is now ranked in 12th position, compared to 16th in 2018.
My Department, though its agency Enterprise Ireland, has been focused on increasing the number of women founding High Potential Start Ups (HPSUs). In 2011, only 7% of EI backed HPSUs included a female founder. By providing capability and funding supports specifically targeting women this had increased to over 21% by 2019.
In January 2020, Enterprise Ireland launched its new six-year strategy for Women in Business including a detailed Action Plan. The aim of the strategy is to drive Ireland’s economic success by harnessing the full talent and expertise of a diverse population. The Women in Business strategy includes four Key Objectives:
1. Increasing the number of women becoming entrepreneurs
2. Increasing the number of women starting High Potential Start Ups
3. Increasing the number of women led businesses that are trading internationally and
4. Increasing the number of women in senior leadership and decision-making roles in Irish companies.
This long-term approach is underpinned by the inclusion, for the first time ever, of a focus on increasing the number of women in management and leadership positions in Irish companies. Progress has been made in implementing the actions in the 2020 strategy including:
- a dedicated €1m funding stream for woman entrepreneurs under the Competitive Start Fund programme.
- 75% of Seed & Venture Capital investment funds supported by Enterprise Ireland have a woman at partner/investment manager level.
- The Level Project, www.levelproject.ie launched in November 2021 is a toolkit free to all companies, helping them assess their current situation and put in place practical actions to enhance gender balance in their senior teams.
The Local Enterprise Offices also promote National Women’s Enterprise Day, which takes place in autumn each year. Last year due to COVID-19, it took place exclusively online, with the theme of “Build the Future”. The event attracted over 1,000 attendees.
Under the National Digital Strategy, my Department is committed to continuing to increase the number of women-led start-ups and the number of women in leadership roles in digital companies. Under the National Artificial Intelligence Strategy, we have also stated Ireland’s commitment to achieving improved gender balance in AI.
The impacts and dynamics of trade from a gender lens are important issues for Ireland. My Department supports the continued implementation of the Buenos Aires Declaration on trade and women’s economic empowerment from the “MC11” WTO Ministerial Conference in 2017, welcomes the finalised Joint Ministerial Declaration on the advancement of gender equality and women’s economic empowerment within trade for the “MC12” WTO Ministerial Conference and looks forward to its launch.