A session co-organized with the International Finance Corporation
IFC nominates directors to serve on the boards of client companies in which IFC invests equity to add value to such client companies’ operations and create shareholder value consistent with IFC’s development mandate.
IFC’s ambition is to ensue nominee director gender parity. Pro-active and more diverse sourcing of qualified candidates over the last couple of years has enabled IFC to meet our target of nominating women and men in equal proportion to the board of client companies. As of the end of June 2021, 54% of IFC nominated directors were women.
Building on IFC’s success on improve gender diversity on our investee companies’ boards by nominating diverse candidates, this session will discuss practical lessons to expand diversity beyond gender diversity.
With our panel of seasoned practitioners, we propose to discuss in this 60-minute session racial diversity in the boardroom with a focus on:
- Exploring the business case for racial diversity in the boardroom: Beyond equity, what is the business case for racial diversity? How does it compare with gender diversity?
- Enhancing racial board diversity: How to make it happen through policies and practical approaches while avoiding tokenism? What are the biaiss and challenges to overcome across regions?
- Performing as a diverse board: What are the challenges as a diverse board? What are the challenges for diverse board to perform well? How best to leverage the value of diversity? How to make one's voice heard as the odd one out?
- Setting the tone at the top: Beyond board composition and dynamics, what is the role of the board in driving corporate values and culture on racial diversity?