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France

EU

The “Rixain-Castaner” bill

Applicable to

Gender

Yes

Minorities

LGBTQ+

Veterans

Key requirements

Members of French Parliament voted in favor of a bill that will require companies to publish yearly data on gender diversity gaps in their ranks and ultimately, to show a certain level of diversity in their upper-level management within the next several years. In a vote over the proposed legislation, the National Assembly unanimously passed the bill, which mandates that companies with more than 1,000 employees have at least 30 percent women as “senior managers and members of management bodies” by 2027, and 40 percent by 2030. In addition to employment quotas, the proposed bill requires “large and medium-sized companies” to publish an annual report on gender gaps among their senior executives.

Beyond the quotas, the “Rixain-Castaner” bill – which is sponsored by LREM member Marie-Pierre Rixain and party president Christophe Castaner and is still in need of approval from the French Senate – aims to address gender diversity by “generalizing” the requirements set out in the professional equality index that was passed as part of the French Finance Act for 2021.

Specifically, the Rixain-Castaner bill will require the publication of “all the indicators constituting the overall score of companies, as well as corrective measures” when it comes to gender diversity reporting.

Still yet, the proposed legislation establishes that it “intends to increase the financing of women’s entrepreneurship by introducing gender diversity objectives into [French investment bank] Bpifrance’s policy to support the creation and development of businesses.”

Scope

Public Limited Companies

Penalties

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