A report being released today will reveal representation of women at Executive level has increased by 2% increase since 2017. However, social investment boards have seen a drop in female representation. Whilst the story shows a positive outlook for women; Black Asian Minority Ethnic (BAME) women are the least likely to hold directorship in the sector, accounting for just 16 (or 2.8%) of all Board Directors
The report shows that almost one in five Board directors (18%) in the sector attended Oxford or Cambridge universities. This compares to just 1% of the whole population. Danyaal Satar, CEO, Big Issue Invest said:
“We welcome the findings of this report and hope this helps refocus attention. I believe the solutions are within our grasp. If the rest of commerce do not want the brightest and the best, we’ll have them, thank you very much”.
The research also found that:
- BAME senior managers and execs are younger on average compared to their white colleagues, with a higher distribution for those in their late thirties and early forties. The average age is 49 years old
- Female Board members were more likely to have a background from the charity sector
The UK is home to the world’s fastest growing social investment market and has been building up its reputation as having one of the world’s most developed social economies. In 2017, the UK social investment market was worth over £2.3 billion, with around 4,000 investments made. The sector has grown by more than 50 per cent since 2015 and continues to grow at a rate of 17 per cent year-on-year.
Samuel Kasumu, Managing Director at the agency said;
“The impact of social investment extends beyond simply providing financial capital but ensuring the finance has made a difference to society. The size and relatively young age of social investment means there is an opportunity to drive change and lead by example”.
The Diversity Forum, funded by The Connect Fund to improve diversity among social investors in the UK, are taking the lead to increase diversity at all levels in the sector. Their diversity champions peer network is committed to championing diversity at organisational level in the sector and make changes that have long-term impact.
Please click here to download the full report: