Daria Ringwelska, Director of the Market Surveillance and Infrastructure Department at the UKNF, took part in the debate ‘Women on Boards Directive. Law. Actions’, organised by the Polish Bank Association (ZBP). The discussion focused on practical aspects of applying regulations, the process of selecting members of companies’ governing bodies, diversity principles, and reporting.

As representatives of the financial sector were present, this was an occasion to exchange experiences and emphasise the role of transparent decision-making processes in increasing diversity in companies’ bodies.

Daria Ringwelska pointed to practical challenges that might appear when a candidate for a company body was being selected. She referred to situations where male and female candidates had comparable experience and qualifications and received the same score. ‘In such cases, other rules applicable in the company, including diversity and inclusion rules, may also be important’. Compliance with the other rules may be part of the transparent process if such criteria have been defined and applied in a transparent manner.

Reporting will be an important aspect of implementing the directive. ‘One should lead by example,’ she emphasised and pointed out that ‘actions taken by companies may encourage other companies to develop their own solutions in the area of diversity’. At the same time, she pointed to the need to preserve balance between transparency and the protection of companies’ know-how. As she underlined, ‘reporting entities need reasonable approach and common sense, taking into account regulatory requirements’.

‘What matters is not only the goal itself but also the path towards it,’ Daria Ringwelska emphasised. 

In the initial period of reporting, it will be important, above all, to properly refer to applicable regulations and their timelines. In the context of implementing the EU Women on Boards Directive, what actually counts is not so much for companies to achieve a specific level of women's representation but to present measures and solutions that are supposed to enable the achievement of that target.