In its annual global benchmark policy survey, ISS also sought input on whether board diversity info is still important to investors. As I blogged earlier this year, ISS halted application of its voting policy on that topic – but at least for this year, its research reports still have data on board diversity factors.

Here are the key takeaways from the survey results:

– 29% of investors selected “We remain focused on the importance of board, executive and workforce diversity, including diversity targets where applicable, and expect that most U.S. companies will disclose their approach to the diversity demographics of their boards as well as other DEI matters.”

– 24% of investors selected “Corporate DEI-related practices have evolved in the U.S., and disclosure on how companies assess risks or opportunities associated with DEI, whether they are scaling back or maintaining corporate DEI programs, is generally helpful for shareholders.”

– 2% of investors said “Irrespective of complexity, shareholder proposals on DEI topics are an unnecessary distraction for companies.”

– 34% of non-investors said “We no longer (or never did) consider numerical board or executive diversity targets but expect that U.S. company boards will continue to have a mix of professional and personal characteristics that is comparable to market norms and to each company’s business needs.“

For companies, this is an area where the balance of risk continues to evolve – so it will be important to have ongoing conversations about practices and disclosures, especially as proxy season approaches. Don’t forget to include perspectives from other experts and affected stakeholders in these conversations. For the legal side, that may include colleagues who specialize in employment law, government contracting, and potentially M&A and white collar defense (depending on the company’s circumstances). People outside of legal will also have views…

– Liz Dunshee