Draft law amending the Securities Market Act and, in consequence thereof, amending other laws (588 SE) - first reading
Session: 15th Riigikogu, 5th session, plenary sitting
Date: 2025-04-08 13:08
Participating Politicians:
Total Speeches: 148
Membership: 15
Agenda Duration: 2h 21m
AI Summaries: 148/148 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
The draft law amending the Securities Market Act, and other related laws, initiated by the Government of the Republic, was presented to the Riigikogu for its first reading. The draft law incorporates a European Union directive aimed at promoting gender balance in the management bodies of listed companies. The directive is temporary and is valid until the end of 2038. Based on length and criteria of foreign jurisdiction, the draft law covers the largest listed companies and sets two possible target options for general meeting elections: at least 40% of management board members of underrepresented gender or at least 33% of management and supervisory board members of underrepresented gender. If a company does not achieve the set targets, transparent selection criteria must be implemented and a comparative assessment of the candidate must be provided, but sanctions are not stipulated for failing to achieve these targets. The debate on the draft law brought out, in addition to technical and legal nuances, broader questions regarding gender balance and the role model of state governance, and involved several members of the Riigikogu from different parties.
The debate focused strongly on whether and how balancing options should be reflected in management bodies and what impact is associated with the state and the private sector. Parties shed light on the balance between the pragmatism of transferring the directive's objectives, as well as cultural and economic aspects. Ultimately, it was agreed that the first reading would be concluded and the next steps in the procedure, including the deadline for submitting amendments, have been defined.
Decisions Made 1
First reading completed. The deadline for submitting amendments is April 23rd at 5:15 PM. The draft's proceedings will continue in the plenary’s next session; an initial decision was confirmed to move draft 588 forward according to the participation of the coalition and the opposition. Additionally, it was noted that proposals and questions will be discussed at the next sitting, and members of the Riigikogu will continue the discussion.
Most Active Speaker
The most active speaker in this discussion round was the speechifier with the ID DvOgSs1IRCw. This person represents the left-wing bloc of the Riigikogu (preferably the Social Democratic Party) and made several notes and questions directed at multiple participants, including discussions about sanctions and broader principles of participation policy. Therefore, they can be described as a representative from a “left” position, and their role appears to be that of an active questioner and a contributor to the depth of the discussion.
Aseesimees Toomas Kivimägi
AI Summary
The Riigikogu begins the first reading of draft bill No. 588, concerning amendments to the Securities Market Act and related laws, initiated by the government, and designates Finance Minister Jürgen Ligi as the rapporteur.
Rahandusminister Jürgen Ligi
AI Summary
Jürgen Ligi explains that the bill would bring into Estonian law an EU directive that obliges large listed companies to promote gender balance in their governing bodies: the general meeting elects either at least 40% of the underrepresented gender, or at least 33% of the members of the board and the supervisory board are of the underrepresented gender; companies notify the Financial Supervisory Authority of this and publish the result on their website; if the target is not reached, transparent selection criteria are applied and information about the final selection is provided, and the Financial Supervisory Authority publishes a list; the changes take effect mainly in the summer and penalties do not apply.
Aseesimees Toomas Kivimägi
AI Summary
Toomas Kivimägi thanks the audience, notes that there is a whole range of questions, and informs that Martin Helme will begin.
Martin Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Martin Helme criticizes the idea of gay quotas and the claim that there are at least 20 different genders, and that councils should have at least 40% representation, and regards it as absurd and asks what such a system would look like.
Rahandusminister Jürgen Ligi
AI Summary
They thank and explain that they are not Kristina Kallas.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi asks Tanel Kiiki to come and speak.
Tanel Kiik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Tanel Kiik asks the minister why the government imposes mandatory criteria on listed companies to achieve gender balance, when the government itself has not managed to achieve such a goal (9 men and 4 women).
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that the draft bill is not very regulatory and has a historical background and has been softened over time, but quotas aimed at increasing women's representation still provoke debate about whether they elevate or demean women.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman, Toomas Kivimägi, asks Lauri Laats to take the floor.
Lauri Laats
Profiling Eesti Keskerakonna fraktsioonAI Summary
Lauri Laats highlighted the negative consequences of the American quota system, recalled Estonia's positive stance and the background of the European debate, and asked whether the bill could be rejected and what sanctions would apply if nothing is done about it right now.
Rahandusminister Jürgen Ligi
AI Summary
He said that a misconduct investigation is underway, and although opposition to the bill has persisted for 13 years, its radical softening has been achieved: there are no sanctions, only described measures that improve access for the underrepresented gender, primarily women, to the governing bodies, although finding female candidates in state-owned enterprises is difficult, and at the same time the principles of the state's ownership policy have been confirmed.
Aseesimees Toomas Kivimägi
AI Summary
They ask Evelin Poolametsa to come on stage.
Evelin Poolamets
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
The presenter Evelin Poolamets pointed out that the draft bill will bring serious consequences and a fine of up to 400,000 euros for violating the quota, and asked for clarification on how to handle the share of underrepresented gender members, which must be approximately 40% and not exceed 49%, what it legally means to exceed the percentage, whether the underrepresented gender would then become overrepresented, and how to act in a situation where there are 49% women and one woman wishes to run for office.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that there are no sanctions, underrepresentation does not mean 50%, representation in the faction is very good, and there is no requirement concerning companies, and he asked that, next time, the transcript be reviewed—the one to which the draft bill refers.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman, Toomas Kivimägi, asks Urve Tiidus to take the floor.
Urve Tiidus
Profiling Eesti Reformierakonna fraktsioonAI Summary
They pose a question to the director and the minister: how does an odd number of board members mathematically guarantee gender equality?
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that there is no 50% requirement; they are talking about a 33–40% ambition and soft regulation; there will be no penalties, this is a major compromise achieved at the European level, whose aim is to show ambition and to act and to avoid excessive regulation of large companies.
Jaak Valge
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Jaak Valge expressed opposition to excessive regulation, stressed that it harms competitiveness, and said that people should not be chosen for companies' governing bodies solely on the basis of ability; other criteria should also be taken into account, because it would open Pandora's box and next the EU institutions may demand clearer and even more gender quotas.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman, Toomas Kivimägi, asks Jaak Valge to speak.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that closing Pandora's box is a good thing, but there may also be something valuable inside it; he acknowledges the reality of women's underrepresentation and that promoting their careers enriches society, and although your question contained the assumption that women in leadership would sink the ship, he is not certain about it, and there is no study.
Reili Rand
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Reili Rand said that the directive does not compel anyone to appoint to a position solely on the basis of gender, but sets the rules in such a way that if there are two equal candidates who qualify, the candidate of the underrepresented gender is preferred, where possible.
Aseesimees Toomas Kivimägi
AI Summary
The speech is merely a plea to invite Reili Rand onto the stage.
Aseesimees Toomas Kivimägi
AI Summary
Summary: The speech promises to ask questions first and then the minister will give us an explanation.
Reili Rand
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Reili Rand notes that women in Estonia are educated, but the gender pay gap is among the largest in Europe, and the representation of women in decision-making bodies is among the lowest in Europe; paradoxically, she emphasizes that as a country we should lead by example in entrepreneurship by establishing rules, and she asks the minister about the composition of the government.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman, Toomas Kivimägi, simply said: "Thank you."
Reili Rand
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Reili Rand asks why it took the government so long to realize that the state could also be an example through state-owned enterprises.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi thanks the listeners.
Reili Rand
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
As a result of Riina Sikkut's persistent insistence, the principles of the state's participation policy were written into the record as the same principles.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that regulation of state-owned enterprises should not be over-regulated and that the aim is ambition, not a rigid rule, and that together with the Social Democrats the desired result was achieved, which the draft bill received with their backing.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invited Mart Maastik to speak.
Mart Maastik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Maastik emphasizes the importance of gender equality and asks Finance Minister Jürgen Ligi whether the aim of private-company boards is primarily to have bright minds and to advise the management, or whether it matters what someone's gender is.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi stressed that the undervaluing of women must not be allowed, that governing bodies must not be filled with only women, and that women should be encouraged to participate more actively in the leadership of society and enterprises, and conditions should be created for them, because soft regulation is a sensible compromise between the interests of society.
Anti Poolamets
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Anti Poolamets criticizes the draft text that uses the term "underrepresented gender" without distinguishing between men and women, and argues that it hides the topic of transgender or other genders and should focus only on the issue of men and women.
Aseesimees Toomas Kivimägi
AI Summary
This is a short plea: that Anti Poolamets speak.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi stressed that women's underrepresentation is a historically established concept, and in reality men are sometimes also marginalized, and therefore we must focus on both genders and avoid blaming political parties.
Aseesimees Toomas Kivimägi
AI Summary
The deputy chairman, Toomas Kivimägi, invited Peeter Ernits to speak.
Peeter Ernits
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Peeter Ernits criticized that a directive is being brought before Parliament, which concerns the remuneration of the management of publicly traded companies and narrows the circle of subjects to 18, and noted that its adoption was supposed to take place by December 28 of last year, but due to the workload it has been postponed.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman, Toomas Kivimägi, expresses gratitude.
Peeter Ernits
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Peeter Ernits claims that although paying a fine may seem simple, there are currently many acute problems in Estonia and we have wasted resources.
Aseesimees Toomas Kivimägi
AI Summary
The speech expresses gratitude to the esteemed questioner.
Peeter Ernits
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
They note that there are currently 36 minutes of precious time, and ask Jürgen whether this is a wise thing to do right now.
Rahandusminister Jürgen Ligi
AI Summary
He notes that the answer to the question has been given and criticizes the idea that a person's essence is determined by a single body part, and calls for a discussion about political culture and the staging of such a dispute.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invites Martin Helmet to speak.
Martin Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Martin Helme accuses Jürgen of not answering questions and of lying in connection with gender equality, refers to sanctions, and, in an ironic tone, notes that bogs are on people’s heads and that the discussion should not focus on pants.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi described himself as a liberal-conservative, saying that conservatism for him means a national stance, not vulgarity, and liberalism also addresses societal regulations, not only personal attitudes.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invited Vadim Belobrovtsev to speak.
Vadim Belobrovtsev
Profiling Eesti Keskerakonna fraktsioonAI Summary
Belobrovtsev expresses concern about the size of Estonia's gender pay gap, notes that quotas are a separate issue, and asks the Minister of Finance why private enterprises are told how many men, women, or other gender groups they must have, and whether this does not violate entrepreneurial freedom.
Rahandusminister Jürgen Ligi
AI Summary
Traditional prejudices and customs as well as regulations restrict the freedom of entrepreneurship and women's participation, but breaking them increases freedom and improves both society and the economy.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invites Varro Vooglaid to speak.
Varro Vooglaid
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Varro Vooglaid demands clarification about the draft's sanctions, noting that the draft allows a monetary fine of up to 400,000 euros for legal entities, and that there are inconsistencies between the explanatory memorandum and the law regarding the concept of gender balance, and asks whether, to remedy the violation, it would be sufficient for board members to identify themselves as representatives of the opposite sex.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi explains that violation of numerical targets does not bring sanctions, but it has a regulatory role and penalties may be imposed in case of violation; gender checks are not provided, the difference between men and women is not the main issue, and biological tests are not performed, because it is more of a religious notion than scientific truth.
Aseesimees Toomas Kivimägi
AI Summary
This speech is merely a plea to invite Evelin Poolamets.
Evelin Poolamets
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Evelin Poolamets raised the question of what the law about to take effect will look like — whether, as Jürgen Ligi claims, violations of gender balance will not be punished, or as the draft § 23792 stipulates (a financial penalty of up to 400,000 euros).
Rahandusminister Jürgen Ligi
AI Summary
The speech is precise and matches both the words written down and my responses.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invites Anastassia Kovalenko-Kõlvarti onto the stage.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
Anastassia Kovalenko-Kõlvart highlighted the shortage of female specialists in some fields and asked what concrete recommendations would be given to publicly listed companies and to the state more broadly in order to increase women's representation on governing bodies, because the existing directive is illusory and does not solve the problem.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that he stood against approving the draft, because the natural differences between women and men must not be forcibly brought into technological fields, and overregulation yields no results, and the draft's ambition should be evaluated sensibly, citing the Eesti Energia board's pursuit of gender balance and that a female board member should not feel privileged.
Aseesimees Toomas Kivimägi
AI Summary
The speech contained only a prayer to Rain Epler.
Rain Epler
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Rain Epler posed two questions about this legislative framework: whether "sex" is understood in a biological or extended (social) sense in accordance with the ILO Convention; and whether "underrepresented sex" is determined based on national statistics or, for each company, which sex is less represented on the governing body.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that the bill does not aim to define a fluid gender or create 40 different genders, but focuses on the usual interchange between men and women, and if a dispute arises, it is agreed that a person may define themselves differently if they wish.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi asked Mart Maastik to take the floor.
Mart Maastik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Mart Maastik asks whether the gender composition of the state-regulated council or the company's own selection based on the knowledge and skills of competent members is more important for profit generation.
Rahandusminister Jürgen Ligi
AI Summary
In entrepreneurship, the aim is not merely to earn money — money is a means that is supplemented by environmental sustainability, social responsibility and gender diversity, and research shows that women's participation increases success and does not reduce profit.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invited Rene Kokk onto the stage.
AI Summary
Rene Kokk said that money in the state budget must be reviewed, and that this money is brought in by entrepreneurs. He stressed the need for a respectful attitude toward entrepreneurs and posed a practical question about how a member of the council or board should act in terms of conduct and obligations when changing identity.
Rahandusminister Jürgen Ligi
AI Summary
The Estonian Parliament should deal with substantive matters, because taxes and welfare arise from the entire economy – not only from businesses – and the state creates benefits, while citizens pay taxes and do so correctly.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman, Toomas Kivimägi, invited Henn Põlluaas to speak.
Henn Põlluaas
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Henn Põlluaas said that the bill, according to which the most important criterion is a person's gender rather than knowledge and competence, is completely absurd; he cited the results of 2017 studies on the happiness of women in leadership positions and said that gender quotas do not make society better, and asked why submit to the demands of left-wing radicals and why make women unhappy.
Rahandusminister Jürgen Ligi
AI Summary
Ligi emphasizes that the happiness of both men and women depends on the balance between family and career, and that rigid stigmatizations of gender roles are unacceptable and cannot be solved by law.
Reili Rand
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Reili Rand explains that when getting acquainted with the materials of the local draft bill, confusion can easily arise, discusses the sanctions mechanism and that sanctions cannot be imposed solely on the basis of whether the objective is met one-to-one, asks for the minister's help, highlights criticism of bureaucracy and of entrepreneurial freedom, and refers to McKinsey studies.
Aseesimees Toomas Kivimägi
AI Summary
The deputy chairman, Toomas Kivimägi, invited Reili Randi onto the stage.
Aseesimees Toomas Kivimägi
AI Summary
The speech contained only gratitude.
Reili Rand
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Reili Rand said that to date it has not been proven how cohesive and gender-balanced organizations are more competitive.
Aseesimees Toomas Kivimägi
AI Summary
Vice-Chairman Toomas Kivimägi ended his speech with a word of thanks.
Reili Rand
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Reili Rand says that they are producing greater wealth for all of us.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi stressed that for listed companies transparent criteria will be established in recruiting candidates for governing bodies, that equally qualified candidates from underrepresented gender groups will be preferred, that information will be provided about the criteria on which the selection was based and about a comparative assessment, and if these rules are ignored, sanctions may be imposed—though the actual sanction is small and comes into play in cases of lack of transparency.
Aseesimees Toomas Kivimägi
AI Summary
Toomas Kivimägi, in his capacity as the head, said that he does not interfere with the substance, but is well versed on the topic of sanctions, and, in his words, Reili Ranna's and the minister's comments were very precise and relevant and corresponded to the text of the draft bill.
Arvo Aller
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Arvo Aller claims that this law is, in his words, a substitute measure, and Estonia must focus on improving the well-being of its people and creating conditions for economic growth, and since this is an EU directive to be transposed by December 2024, he calls for looking at the experiences of neighbors—Latvia and Lithuania—and following the example of Finland and Sweden.
Rahandusminister Jürgen Ligi
AI Summary
According to Finance Minister Jürgen Ligi, the draft is not absurd, but the whole of Europe will adopt a soft, value-based directive that adds little administrative burden, and removing restrictions on women will increase society's potential and well-being, and diversity will foster economic growth.
Aseesimees Toomas Kivimägi
AI Summary
The deputy chairman, Toomas Kivimägi, invited Peeter Ernits to speak.
Peeter Ernits
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Peeter Ernits asks how the European Union's directive on gender balance on the boards of listed companies will improve Estonia's economic growth and people's livelihoods, when the Estonian economy is currently in crisis and more than an hour has been spent discussing this directive.
Aseesimees Toomas Kivimägi
AI Summary
The speech was nothing more than an expression of gratitude.
Peeter Ernits
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Peeter Ernits discusses this broadcast and economic well-being.
Rahandusminister Jürgen Ligi
AI Summary
Jürgen Ligi said that Estonia has replaced a very regulatory and punitive directive with a very lenient and values-based one, which does not harm anyone, but increases people's potential and both their material and mental well-being.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invites Vadim Belobrovtsev to take the floor.
Vadim Belobrovtsev
Profiling Eesti Keskerakonna fraktsioonAI Summary
Belobrovtsev emphasized that the European Union's equality program concerns not only men and women, but also ethnic and sexual minorities, and that there should be greater minority representation in the composition of corporate governing bodies.
Rahandusminister Jürgen Ligi
AI Summary
The answer is, of course, no, and although he does not think it is right, Finance Minister Jürgen Ligi emphasizes that the potential of all members of society should be better utilized; he is against the quota system and quotas, and this has created a major conflict in his career, but he pays little attention to it, because the opposition is, on many issues, a good intellectual ally.
Aseesimees Toomas Kivimägi
AI Summary
During the speech, Varro Vooglaid is asked to speak.
Varro Vooglaid
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
The speech raises the question of whether Varro Vooglaid will be able to admit that his previous claim about the absence of sanctions was false, because the draft adds a fine of up to 400,000 euros for the violation of an individual quantitative objective.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi confirmed that his comment wasn't wrong and that the bill contains sanctions related to the setting of targets, but sanctions will not be imposed if the targets aren't achieved, and he called on Parliament to deal with real issues and not take phrases out of context.
Aseesimees Toomas Kivimägi
AI Summary
The speech was only a prayer to Rain Epler.
Rain Epler
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Rain Epler emphasizes that in Estonia there are two sexes—female and male—and gender-based violence and harassment are defined through both biological and social sex, which has been incorporated into legislation due to an international convention, and he raises the question of whether the underrepresented sex can be implemented at the national level or at the corporate level, and how this law actually works.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that he would focus only on this bill, praised the work on other bills, and stated that bullying is bad and that criminalizing bullying is the right thing.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invites Anti Poolametsa to speak.
Anti Poolamets
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Anti Poolamets accuses the opposing side of backing a convention that includes social gender, demands its implementation and the protection of social genders, and reminds that schools teach around 20 genders, while asking next time whether the text refers to gender or biological sex.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that this is not the most important topic in the management of companies and it should be addressed delicately, the majority of people consider sex to be biological, and other kinds of cases can be handled quite well.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman, Toomas Kivimägi, invited Lauri Laats to take the floor.
Lauri Laats
Profiling Eesti Keskerakonna fraktsioonAI Summary
Lauri Laats pointed out that the draft provisions sections 23791 and 23792 set fines of up to 400,000 euros; at the first reading there have been interpretations of how it will be applied, and he asked whether, in the case of amendment proposals, the Ministry of Finance would agree to the changes.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that this has created both understanding and misunderstanding, and the misunderstanding is probably politically motivated, but he does not praise the major shifts in direction; instead, he is willing to approve only those changes that are based on understanding and make things better, stressing that the directive's aim is clear and the measures are very soft, and there is no need to see any demon that we should be fending off.
Aseesimees Toomas Kivimägi
AI Summary
Vice-chairman Toomas Kivimägi turns to Rene Kokk and asks him for something.
AI Summary
Rene Kokk notes that the draft is of a temporary nature and its validity ends at the end of 2038, and after the end that comes with it he asks whether the EU has finally understood how to act, and whether this directive has entered into force and who should sit on a board or council somewhere.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that this is soft regulation that shapes attitudes, reporting and aspirations, and that by 2038 it will probably have widened into a broader understanding that society is a whole and that many things we do not want are not anyone's fault.
Aseesimees Toomas Kivimägi
AI Summary
Toomas Kivimägi asked Annely Akkermann to speak.
Annely Akkermann
Profiling Eesti Reformierakonna fraktsioonAI Summary
Annely Akkermann emphasizes that women can be happy in high-level positions, and the draft bill encourages them to apply for seats on the boards of listed companies, but at the same time asks whether gender balance is lacking in schools and hospitals and whether this is a problem for society.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi claims that the discussion is not manly, but unpleasant, and that true masculinity lies in involving the other sex, in encouraging candidacy and in asking questions, and in ensuring equal treatment and, if necessary, gentle positive discrimination when the candidates are equal.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi invites Alar Laneman to speak.
Alar Laneman
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Alar Laneman thanked the chair of the meeting and the minister, stressed that society is interconnected and that the involvement of women and, more broadly, of people in national defense must be discussed, and asked how to ensure that this discussion does not become ridiculous or merely theoretical but can be put into practice, noting at the same time that harnessing the potential of all people would be very necessary in national defense.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that he is not a moralizer and called for respect and for avoiding gender snobbery, emphasising that there is no single gender in the world and that in the armed forces freedom of choice must remain, where men on the front line may be the better option, but women can fill many roles there and strengthen the collective.
Aseesimees Toomas Kivimägi
AI Summary
Riina Solman is invited to perform.
Riina Solman
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Riina Solman raises the topic of gender self-determination and the need to regulate it in both politics and sports, notes the arising contradictions, and illustrates the situation with the Paris Olympic Games as an example.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi thanked.
Riina Solman
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Riina Solman asks how Estonia would regulate a global scandal if we faced a similar problem.
Rahandusminister Jürgen Ligi
AI Summary
Finance Minister Jürgen Ligi said that a man must not beat a woman, nor should he end up in the boxing ring against a woman, and society should not forcibly create a conflict over issues of identity, because the majority of people can determine their gender.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi asks Mart Helme to speak.
Mart Helme
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Mart Helme said that under the leadership of the Reform Party and their satellites, the European Union is more ridiculous than the Soviet Union, and such idiocy will lead to the dissolution of both the Union and Estonia.
Rahandusminister Jürgen Ligi
AI Summary
Jürgen Ligi confirmed that he would continue and warned that such rhetoric, which compares Russia to the Soviet Union and claims that Russia is more democratic than Estonia, is dangerously encouraging and could lead to catastrophe if it were to come to power and govern the country.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi asked Riina Solman to speak.
Riina Solman
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Riina Solman emphasizes the need for the inclusion of transgender people, recalls the experience of bullying and threats funded by the state, and asks where and how to place them, and the central debate is whether the impact of women's inclusion on wages is better achieved by fighting for equal pay in the council rather than through quotas.
Rahandusminister Jürgen Ligi
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Finance Minister Jürgen Ligi said that things do not have to come at the expense of each other or be defined as a fight, and added that probably a response to the question was awaited, not comments.
Aseesimees Toomas Kivimägi
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The vice-chairman Toomas Kivimägi invited Jüri Jaanson onto the stage.
Jüri Jaanson
Profiling Eesti Reformierakonna fraktsioonAI Summary
Jüri Jaanson pointed out that in sports there is a discussion about whether a person's gender identity should be based on their self-identification or on the data from government documents (ID card and personal identification code), citing the differences between rowing and fencing.
Rahandusminister Jürgen Ligi
AI Summary
Regulation among countries varies, and we base ourselves on the principle of two sexes, but we accept variations; sport is the arena where, in my opinion, this dispute is justified, because women's sport needs protection from biological men, and this issue is moving at the international level, and the IOC's new female president has taken to defending women's sport.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Speaker Toomas Kivimägi announced that the Reform Party faction had submitted a proposal to extend today's sitting until the agenda is exhausted, but not later than 2 p.m., and asked colleagues to vote.
Aseesimees Toomas Kivimägi
AI Summary
The Riigikogu voted for the draft bill with 58 in favor, 6 against and 1 abstention; the proposal received support, today’s session has been extended until the agenda is exhausted, but not later than 14:00; I opened negotiations and, on behalf of the Isamaa faction, asked Mart Maastik and Riina Sikkut to take the floor.
Riina Sikkut
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Riina Sikkut described the draft bill discussed at the Finance Committee meeting, the aim of which is to promote gender equality and the balance of leadership bodies in listed companies, and proposed putting the draft bill on the plenary agenda for 8 April 2025, to conclude the first reading, and to set the deadline for amendments at ten working days, emphasizing that real steps to achieve gender balance and the transposition of the directive are important as a means of advancing progress.
Aseesimees Toomas Kivimägi
AI Summary
Toomas Kivimägi sincerely thanked the commission's rapporteur, noting that nothing would have been done without him, citing, as an example, the transposition of a directive from neighboring countries, and then asked Arvo Aller to present a few questions.
Arvo Aller
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Arvo Aller’s speech emphasized that the committee’s discussion on the transposition of the directive was broader than it is now, and asked what the neighbors are doing, whether they have taken it up, and whether their economy and the share of women have improved over the past 13 years, and how this could stimulate our economy, while expressing the wish that the next 13 years should not have the same minister.
Riina Sikkut
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Riina Sikkut noted that the discussion in the commission was very narrow and limited to the transposition of the directive, with a broader range of topics on gender equality or sports issues not touched upon, and although Finland, Sweden and Lithuania have already transposed the directive, France, Italy, the Netherlands and Denmark have achieved the 40% target for the underrepresented gender (and eight member states have surpassed the 33% threshold), discussions in Germany continue and the Latvian draft is still in preparation.
Aseesimees Toomas Kivimägi
AI Summary
The vice-chairman Toomas Kivimägi asks Jaak Valge to take the floor.
Jaak Valge
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Jaak Valge poses an ideological question about the importance of gender balance, pointing to the widening distribution of men's IQ scores and to the fact that 95% of those detained are men, as well as to the male predominance among top executives, and asks why this balance is more important than racial or age-based balance, and why companies where this balance is absent do not want to increase success, and whether this balance could develop organically.
Riina Sikkut
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Riina Sikkut emphasizes that in Estonia the IQ of members of corporate supervisory boards has not been studied, nor has an education requirement been established, but the low representation of women on management boards and on supervisory boards requires changes to increase candidacy and gender equality through role models.
Aseesimees Toomas Kivimägi
AI Summary
The idea of an IQ test in the Riigikogu chamber has by now escaped the boundaries of the draft bill and is being called Tanel Kiik.
Tanel Kiik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Tanel Kiik asks whether the debate on gender balance is becoming vulgar and demagogic due to an unconscious fear for his own standing in society, or why these questions cannot be discussed in a mature way.
Riina Sikkut
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Riina Sikkut stressed that gender equality and a broader pool of experience improve the quality of decisions, and that gender balance should be increased in schools, the civil service, the boards of listed companies, the Defence Forces, and the Estonian Parliament, because this is both a matter of national defense and of education and general governance, and we have an exceptionally low representation compared with European countries.
Aseesimees Toomas Kivimägi
AI Summary
The speaker thanks the audience, announces that there are no questions, apologizes for the repetition, reopens negotiations for a second time, and, on behalf of the Isamaa faction, asks that Mart Maastik be allowed to speak from the Riigikogu's podium.
Mart Maastik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Mart Maastik criticized the EU directive that requires a number of underrepresented gender members on the boards of directors, emphasizing that in corporate leadership competence and profit are what matter most and that the priorities should be the economy and national defense, not gender-based demands.
Aseesimees Arvo Aller
AI Summary
Vice-chairman Arvo Aller asked for three more minutes.
Mart Maastik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Maastik criticizes the insult directed at Kaja Kallas, calls on Estonia to boldly stand up to the European Union's absurdities, involve other reasonable countries and not accept everything out of fear of fines, arguing that the union should be an economic union, and emphasizes that Isamaa is against such a draft and that the proposal for rejection has been signed by Helir-Valdor Seeder.
Aseesimees Arvo Aller
AI Summary
Evelin Poolamets represents the EKRE faction and asks for the floor.
Evelin Poolamets
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Poolamets criticizes the draft bill that would set a 40% share of representatives from underrepresented genders on the supervisory boards and management boards of listed companies, calls it an experiment in gender identity and claims that it harms both the economy and women's rights, forces companies to choose leaders based on the percentage rather than on skills and performance, and urges rejecting the draft at the first reading, emphasizing that true equal dignity must be achieved on the basis of skills and results.
Aseesimees Arvo Aller
AI Summary
Vice-Chairman Arvo Aller announced that the next speaker would be Lauri Laats, on behalf of the Estonian Centre Party faction.
Lauri Laats
Profiling Eesti Keskerakonna fraktsioonAI Summary
Lauri Laats criticized the gender quota bill as being steered in the wrong direction, arguing that the balance between women and men already exists in companies and that boards should make decisions on an economic basis, not by forcing according to gender, and he pointed to the minister's absence in the chamber and said that the Centre Party faction would vote against.
Aseesimees Arvo Aller
AI Summary
The vice-chairman Arvo Aller asks for three more minutes.
Lauri Laats
Profiling Eesti Keskerakonna fraktsioonAI Summary
Lauri Laats emphasizes that although fines can amount to up to 400,000 euros, the state must not regulate corporate leadership at the national level, because capable people drive companies and the economy forward by delivering high-quality service and generating profits.
Aseesimees Arvo Aller
AI Summary
Next, Reili Rand will speak on behalf of the Social Democratic Party's parliamentary group, and three minutes of additional time are requested.
Reili Rand
Profiling Sotsiaaldemokraatliku Erakonna fraktsioonAI Summary
Reili Rand emphasizes that the underrepresentation of women in leadership positions is a systemic problem that must be addressed through transparent decision-making processes and, if necessary, through quotas, in order to ensure equal opportunities, diversity and better quality of decisions, and that the state and state-owned companies must set an example in this.
Aseesimees Arvo Aller
AI Summary
The vice-chairman Arvo Aller ended the negotiations and announced that a vote would be held on the proposal from the Isamaa faction and the Estonian Conservative People's Party faction to delay the first reading of Draft Bill 588, which concerns amending the Securities Market Act initiated by the Government of the Republic and, in connection with this, amendments to other laws.
Aseesimees Arvo Aller
AI Summary
The proposal did not receive any support, with 25 Riigikogu members in favor, 54 against and 0 abstentions; the first reading has been completed, and the deadline for submitting amendment proposals is 23 April this year at 17:15.