Weaving the Web to achieve the SDGs: the presence of women in the boardrooms as a key driver

Abstract

Purpose Due to the importance of mitigating the issues that afflict society and natural habitats on a global scale, the United Nations has established 17 key goals to directly and effectively mitigate problems such as extreme poverty, lack of access to quality educational environments or the loss of life in underwater and terrestrial ecosystems, which need to be addressed from multiple parties, particularly from the business network. In this context, the purpose of this paper is to analyse the potential impact of female participation in boardrooms on the disclosure of corporate information regarding the integration of the Sustainable Development Goals (SDGs) into business strategy. Design/methodology/approach The research hypotheses were developed on the basis of a multi-theoretical perspective, which included agency theory, upper echelon theory, resources dependency theory and critical mass theory. The hypotheses were tested using a regression model for a sample of 8,903 companies for the period 2019–2022. Findings The results highlight the importance of an increase in female boardroom representation as a key driver in the achieving of the SDGs with favourable effects on environmental and social issues, being robust to changes in methodological specifications. Research limitations/implications This research provides valuable evidence for the analysis of gender issues in the business field; however, it has some limitations that can be addressed by academics. In this sense, this research solely examined the impact of chief executive officer (CEO) duality while overlooking the potential for its influence to be amplified by a distinctive configuration of the board, such as the involvement of a former CEO, a greater or lesser degree of participation of executive directors in the boardroom or the fact that the CEO is a woman. These factors could either reinforce or obstruct the benefits of female directors in the accomplishment of the SDGs. Practical implications From a practical standpoint, this research illustrates the advantages of the active involvement of women in the boardroom. Their participation has resulted in notable modifications to corporate strategies, with a focus on aligning business actions with the attainment of the SDGs and related transparency. This facilitates a more comprehensive understanding of the business interest in conserving natural habitats and eradicating social inequalities. Social implications From a societal perspective, the findings illustrate the significance of actively promoting the involvement of women in organisational leadership roles. The inclusion of women's perspectives can enhance the planning of business processes, with far-reaching implications for stakeholders. Therefore, it is vital to guarantee opportunities for women, such as access to higher education and gainful employment, particularly in nations where there are considerable constraints to the intellectual and economic advancement of girls and women. Originality/value The findings contribute to the growing body of knowledge on the optimal configuration of the boardroom, especially the gendered boardroom (i.e. García-Sánchez et al., 2023b; Liao et al., 2015), and its ability to address today's global challenges. Furthermore, the findings indicate the necessity of establishing pathways for women to reach positions of influence within the organisational hierarchy, thereby facilitating beneficial societal changes. These changes can include the mitigation of environmental damage and the rectification of historical social inequalities.