estimates that hostilities against LGBTQI+ people deprived Hungary, Poland and Romania close to 7 billion euros annually. However, an increase of 10% in the rights of LGBTQI+ people in these countries could result in a 3,400 euros per capita increase in GDP.
What's more, a truly diverse board could boost companies' ratings in environmental, social and governance and diversity, equity and inclusion . When they occupy positions of power, LGBTQI+ people have an opportunity to strengthen their companies' corporate mission for the community worldwide. For example, this could mean advocating for queer rights in some of the near 70 countries that continue to criminalize same-sex relationships.
It has been a long-held perception that board recruitment is an insider's game where current directors bring their friends to the table. When this isn't the case, many boards. This is hardly helps matters, with not only LGBTQI+, but female leaders facing a historical glass ceiling in the corporate world. To create a diverse pool of qualified candidates, nominating committees should expand their criteria beyond those with C-suite experience at publicly listed companies.