Board of Directors: Female (OI8118)

• This metric is intended to capture female representation on the board of directors or governing body of an organization. A board of directors is a group of individuals legally responsible to govern a corporation and responsible to the shareholders and other relevant stakeholders. A governing body with a different name (e.g., "advisory body") may be considered a Board of Directors provided it has a fiduciary and/or social responsibility to shareholders and/or other relevant stakeholders.

• This metric is multi-dimensional with regard to the five dimensions of impact. It may help describe the WHO dimension when the stakeholder group represented by the metric is the stakeholder group targeted by the investment or organization. It may also help measure the HOW MUCH Scale dimension, which helps estimate the number of the targeted stakeholders experiencing the outcome. For more on the alignment of IRIS metrics to the five dimensions of impact, see IRIS+ and the Five Dimensions of Impact (https://iris.thegiin.org/document/iris-and-the-five-dimensions/). No single metric is sufficient to understand an impact; rather, metrics are selected as a set across all dimensions of impact. When possible, the selection of metrics to measure and describe the five dimensions should be based on best practice and evidence.

• Board of Directors: Total (OI1075)
  • Board of Directors: Female (OI8118)
  • Board of Directors: Independent (OI4070)
  • Board of Directors: Historically Marginalized (OI6696)

Board of Directors: Female (OI8118) is required for Joint Impact Indicator: Number of Women on the Board.

JII definition: Number of women on the 'Board of Directors' of the client company at the end of the reporting period. A board of directors is the governing body of a corporation, composed of a group of individuals that is legally/fiduciarily responsible for overseeing the organization’s management and operations and guiding its strategy. The board is accountable to the shareholders and other relevant stakeholders. A governing body with a different name (e.g., "advisory body") may be considered a Board of Directors provided it has a fiduciary responsibility to shareholders and/or other relevant stakeholders.

JII guidance: This metric is intended to capture female representation within the board of directors, supervisory board, or governing body of an organization. Practitioners will need to collect "Total Number of Board Members" to get a percentage. Female Board Members may also hold ownership stakes, Senior Management positions, or Investment Committee positions in the organization. For Financial Intermediaries, the metric refers to the Female Board Members of the Financial Intermediary. For Equity Funds, the metric refers to the Female Board Members of the General Partner. For Investment Fund Investees, also refer to the HIPSO metric "Number of Female Founded Enterprises." Practitioners should avoid double-counting women who fill multiple roles within an organization by not aggregating HIPSO's "Number of Women on the Board" with "Number of Women in Senior Management," "Number of Investment Committee members who are female," or "Female Direct Jobs Supported (Operations and Maintenance)." Practitioners may also refer to specific gender leadership benchmarks and application guidance as needed, such as those specified by the 2X Challenge (www.2xchallenge.org).

JII applicability: All client companies, where relevant. Practitioners may use this metric for investment fund investees, where applicable, but typically not used for clients of other intermediated finance (e.g. commercial banks).

1. June 2022 - IRIS v5.3 Released (current version)

   Immaterial change. Minor revision to usage guidance for clarity.

2. January 2020 - IRIS v5.1 Released

   No change.

3. May 2019 - IRIS v5.0 Released

   No change.

4. March 2016 - IRIS v4.0 Released

   Immaterial change. Minor revision to usage guidance for clarity.

5. March 2014 - IRIS v3.0 Released

   No change.