Half of companies listed on the Buenos Aires Stock Exchange have no women on their boards

2019 and it is still difficult to find women in decision-making positions in the world of business and finance. Some data on the composition of companies listed on the Buenos Aires Stock Exchange can prove it: 49% do not have women in their repertoire, according to data from an investigation by the National Securities Commission (CNV). The percentage is even 3.1% higher than that of 2017.

That is why, on Tuesday morning, a group of women – and also men – representing different public and private entities gathered for an exchange of views. "ringtone" special at the headquarters of the Buenos Aires Stock Exchange for alert about this situation of inequality.

This was part of the international event "Ring of Bell for Women's Equality" ("Ring the Bell for Gender Equality") which took place in the purses of over 75 country in order to raise awareness of the space of women in business.

The CNV data show that female management positions in the Argentinian capital market increased from a total of 10.4% in 2017 to 11.2% in 2018, an increase of 0, 8%. At the same time, the positions held by men in investment companies now account for 95.7% of the total number of president and 91.4% of vice president positions.

During the ring, various business and financial leaders discussed the differences that exist today between the opportunities available to men and women and the concrete actions that can bring about change.

"We are poorly represented and we have a pay gap. Women in general have their first promotion at the age of 30, while they are in maternity, which generates stagnation and gaps. The gap continues to increasesaid Cecilia Giordano, President and CEO of Mercer Argentina.

"To have equal chances, you need equal conditions. If you give an opportunity but the burden of responsibility for the care of children, the home and the elderly is reserved for the woman, this is not enough"he added.

For Clarisa Estol, Chair of the G20 Working Group on Women Entrepreneurs, it is necessary to involve men to promote diversity. "This is not a charity. Talent comes from diversity, the most diverse, the best"A concrete proposal to avoid this obstacle, for example, is equality in the license for the birth of a child for women and men.

Marcelo Scaglione, representative of the OECD Finance Ministry, participated in the meeting. It is often necessary that actions go from a recommendation to a positive right in a more ambitious way. "In Argentina, out of the 500 largest companies, 370 do not have a single woman on their boards and this needs to be changed," he explained.

"Argentina, despite the current context, has innovated on the issue, has a dynamic youth and an SME development that allows to give visibility to those innovative initiatives", said Florence Raes, representative of UN Women in Argentina.

"The idea of ​​the resounding ringtone appeared three years ago.If we did not do it on the part of the regulator, who else would do it?" Rocío Balestra, Director of the National Securities Commission, who noted that for companies, "investing in women" is investing in the future and it's a good deal.

Aude Maio Coliche, ambbadador of the European Union in Argentina, stressed that the lack of fairness is a waste of talent. "We are conditioned to think that women can not occupy these places," he said. And he pointed to three ways of direct action: through quotas, with the obligation of public reporting and with the division of responsibility for homework.

The diplomat cited some European examples: France, where 40% of women participate in directories, and Germany, which managed to reach 30% through a law on quotas. "The voluntary commitment does not workhe warned.

With respect to equality in home responsibility, he stressed that the only way to achieve this is to give men and women the same number of child care leaves. "It's ideal and it would be key to changing the mentality"he said.

Representatives of BYMA (Bolsas and Mercados Argentina), the National Securities Commission (CNV) and the Buenos Aires Stock Exchange (BCBA) participated in the official ceremony. And also international entities such as the International Finance Corporation (IFC), the Sustainable Stock Exchange Initiative (SSE Initiative), the United Nations Global Compact, UN Women, the World Exchange Federation and Women in Investment FNB).