General Assembly Meetings 2022 in Brazil
How many board members of the LGBTQIAP+ community will be elected this year?
March and April are busy months in listed corporations located in Brazil, as in April board members and fiscal council members are to be elected at the General Assembly Meetings, and that fact envolves the shareholders to a certain degree.
It is the time of the year to perform corrections of Direction at the boards, which is done by aligning the business strategies with the what the market expects from companies to do, and that change takes place by appointing the board members also aligned with the company and the market views.
The market has been sending clear and important messages to companies in regards to implementig the ESG culture, highly appreciated by investors, and it thrills me to see how shareholders will select board members this year. I am referring specifically to shareholders that have learned the value of ESG pratices and hopefully will seek board members from within the diversity communitites, so the culture of inclusion and diversity can be finally be represented ath the board level.
In regards to the above a place a question that will be able to be responded in May, when the General Assembly Meetings will have ended, and that is : how many board members of the LGBTQIAP+ communities will be elected in 2022 for board positions?
It is important to remind readers and shareholders in general that the LGBTQIAP+ community represents circa 10% of the population, according to worldwide researches that only take in consideration responses derived from self declaration statements. If you on top of that add the expressive amount of those that belong to this community and do not openly share their sexual orientation, I am pretty positive that we can easily double that number.
That means in everyday life that within a group of 100 people, there are likely to be 10 members of the LGBTQIAP+ Community present, without you being able to identify them.
Why don´t they come out of the closet? Fear of rejection, non inclusion, to suffer consequences such as dismissal and physical harm.
Let me remind you all that the new generations have developed a unique form of making up their minds and to decide what is best for them and for the society, including there the companies. They care about inclusion and respect diferences, so it seems odd that LGBTQIAP+ individuals are not taken in consideration upon the selection of new board members. The time has come for major renovation of thoughts and whoever thinks this will go away, I am sorry, but you are wrong. Such young individuals expect businesses to perform according to the purpose and cause that each company defends. And not selecting a LGBTQIAP+ board members is therefore not a good ideia.
Dealing with the diversity agenda is no longer a matter of personal opinion. In the corporate world, evolving in such areas has become critical and urgent, and failing to do so, and to show that they are doing it, will have very negative impact on how the markets value this or that company. What we have seen so far is loss of value. Take a look yourself.
That said, it should come as no surprise that companies that are unable to fulfill such requirements will see their business gradually lose customers, clients, value, reputation. And that means less money for everyone.
Such a reality should be addressed by shareholders in their own interest and to the society itself by appointing as board members individuals that belong to the diversity groups. I am not only referring to gender and race, but sexual orientation as well.
I have been a sole voice in Brazil to defend that, as I am positive that I am not the only gay board member in this country. It has been very lonely, as so far no other gay board members in Brazil has decided to fight for the cause, but me.Foreign investors. Do yourself a favour and elect board members from the LGBTQIAP+ Community. The southern hemisphere needs your help and experience to improve more difference of gender, race and sexual orientation at the boards.
The decision is now in your hands, shareholders.
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