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ASX diversity rules in limbo amid Trump DEI backlash
New rules requiring listed companies to report on diversity measures remain up in the air, after the ASX’s governance council refused to put a timeline on finalising the changes.
The principles proposed to ask boards to report on the sexuality, age, Indigenous heritage and disabilities of their directors.
Well. Sounds like the ASX are afraid of Trump. Good for us. Who cares about the sexual choices of the BHP board or Aboriginal heritage of the NAB board.
Needless bureaucracy doesn't bring down prices. People care more about the economy than diversity.
What if Trump says you cannot operate in America if you have DEI reporting in a foreign country? Or says pick Australia or US for a listing.
“The ASX Corporate Governance Council guidelines need a fundamental overhaul,” Mr Wylie said. “When the words ‘diversity’ and ‘inclusion’ are mentioned 10 times more than shareholder value, you know you’ve got a problem.”
