Spain - March 2023

The Council of Ministries approved a new parity law regulating equal gender representation in politics, business, and other areas of public life. The law is a transposition of an EU directive from 2002. According to the law, the board of directors of any listed company must reach a composition of 40 per cent women by 1 July 2024, while large unlisted companies have until June 2026 to comply with the quota’s requirements. Governing boards of professional bodies, courts, and juries awarding prizes or public recognitions are also subject to ensuring balanced representation. The law also regulates the composition of electoral candidacies, which will be based on a “zipper system” quotas – i.e., candidates of both sexes in alternating order. Finally, the law requires the cabinet to have a minimum of 40 per cent representation of each sex.

Sources: La Moncloa, El Pais, Voice of America, Euronews, Financial Times