Source: MSCI All-Country World Index. Note: Reflects boards of 3,046 publicly traded companies based in 46 countries. Chart: Axios Visuals

Female representation on corporate boards around the world has doubled in the last decade. But board members — who play a big role in corporate decision-making, and earn big money for their labors — are still much more likely to be male.

Why it matters: Today is International Women's Day, and — despite unprecedented pressure from shareholders and others to diversify boardrooms — the prospects for gender parity there are bleak. Researchers say it could take another 25 years before there are just as many women as men in boardrooms worldwide.

  • "To achieve the goal faster would require increasing the number of board seats that open up each year and/or appointing women to a higher percentage of the seats that become available," according to MSCI.

Between the lines: Last year saw the biggest annual gain in global board seats held by women since 2009. California's boardroom law — which mandates that all California-based companies must have at least one female director — deserves part of the credit.

  • Outside the U.S., a number of countries, like Belgium, Norway and France, require that companies have a certain number of women on boards.

Shareholder pressure may also be pushing companies to act faster.

  • "Diversity and gender equality have been gaining traction as issues of concern to institutional investors," Meggin Thwing Eastman, MSCI’s research editorial director for ESG Research, tells Axios.
  • Eastman also cites "overall growing social attention" to board diversity as a reason for the boost.

There's progress outside of the corporate world.

  • Take the Federal Reserve. One of the most influential economic policy bodies in the world has taken a lot of flak for being too white and too male. But now, per a Reuters analysis, for the first time in the Fed's 107-year history, white men held fewer than half of board seats at its 12 regional banks.
  • Christine Lagarde became the first woman to head up Europe's central bank last year. Meantime, Ursula von der Leyen is the first to lead the European Commission.

What they're saying: "Incentives to close the gender gap are evident," researchers at Bank of America say in a new report on equality and diversity.

  • Companies "focused on gender diversity at a board, C-suite and firm level have consistently achieved higher [return on equity] and lower earnings risk," the bank found.

The bottom line: While all-male boards are becoming more rare, boards are still dominated by men.

  • The typical S&P 500 board seats four men for every woman, according to Bank of America.

Go deeper: How Wall Street is pushing for more women

Go deeper

Robert Mueller speaks out on Roger Stone commutation

Former Special Counsel Robert Mueller testifies before the House Permanent Select Committee on Intelligence on Capitol Hill on Wednesday July 24, 2019. Photo: The Washington Post / Contributor

Former special counsel Robert Mueller responded to claims from President Trump and his allies that Roger Stone was a "victim" in the Justice Department's investigation into Russian interference in the 2016 election, writing in a Washington Post op-ed published Saturday: "He remains a convicted felon, and rightly so."

Why it matters: The rare public comments by Mueller come on the heels of President Trump's move to commute the sentence of his longtime associate, who was sentenced in February to 40 months in prison for crimes stemming from the Russia investigation. The controversial decision brought an abrupt end to the possibility of Stone spending time behind bars.

Trump dons face mask during Walter Reed visit

Trump wearing a face mask in Walter Reed National Military Medical Center on July 11. Photo: Alex Edelman/AFP via Getty Images

President Trump wore a face mask during his Saturday visit to Walter Reed National Military Medical Center, according to AP.

Why it matters: This is the first known occasion the president has appeared publicly with a facial covering as recommended by health officials since the coronavirus pandemic began, AP writes.

Updated 7 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5:30 p.m. ET: 12,607,510 — Total deaths: 562,338 — Total recoveries — 6,948,863Map.
  2. U.S.: Total confirmed cases as of 5:30 p.m. ET: 3,228,884 — Total deaths: 134,600 — Total recoveries: 983,185 — Total tested: 38,919,421Map.
  3. Public health: Jimmy and Rosalynn Carter: "Please wear a mask to save lives" Fauci hasn't briefed Trump on the coronavirus pandemic in at least two months — We're losing the war on the coronavirus.
  4. Food: How the coronavirus pandemic boosted alternative meat.
  5. Sports: Charge of "money grab" by college football.
  6. World: India reimposes lockdowns as coronavirus cases soar.