The year will end with 15 boards in the ASX 200 with no women on it.
In April last year the Australian Institute of Company Directors set a target of achieving 30 per cent female representation on ASX 200 boards by the end of 2018.
We are still not there, but we are getting closer, AICD chairman Elizabeth Proust said.
Ms Proust has previously called for quotas if voluntary targets are not met.
Among the broader ASX 200, women now account for 25 per cent of board positions, up from 8.3 per cent in 2009 when the AICD started compiling figures.
In total, 64 ASX 200 companies have reached the 30 per cent target, up from just 38 companies this time last year.
And we are already there when it comes to the ASX 20, where women already make up 30 per cent of board positions.
Ms Proust said there was still a fair way to go to achieve gender diversity on Australian boards.
"We will only reach the 30 per cent target for the ASX 200 if appointment rates for women remain at 40 per cent or above," she said.
Only 7 per cent of members of the 23 boards that completed Initial Public Offerings during the first quarter of this financial year were women.
Companies further down the ASX 200 list had failed to understand the diversity that women brought to boards, she said.
Despite substantial progress, one could not "ignore the fact that there are voices that strongly disagree with the push for gender diversity".
A certain amount of self-reflection on the part of men is needed to see that they have benefited from a culture that is skewed in their favour
AICD chairman Elizabeth Proust
"Much of this backlash is from men who feel women are being unfairly advantaged and promoted," she said. "The evidence doesn't support this."
She said if women were being favoured, the average new appointment rate wouldn't be 40 per cent for women, 60 per cent for men.
"A certain amount of self-reflection on the part of men is needed to see that they have benefited from a culture that is skewed in their favour," she said.
"When that self-reflection exists, it is easy to see the benefits of gender diversity and to find talented women to sit around the table."
Also, the view that "good" men are now missing out on board roles implied that these roles were "theirs for the taking, rather than open to suitably qualified candidates from both genders," she said.
"The lack of evidence to support the notion that less qualified women are being appointed over men makes it all too easy to laugh at such objections."
But as Brexit and the recent US election of Donald Trump demonstrated, "we can't ignore negative sentiments or feelings of disenchantment among individuals".
"It would of course be impossible to convert every opponent of improved gender diversity," she said.
"We do however need to continue to grow our engagement, advocacy and communication efforts if we are to win more 'hearts and minds'."
"It would be tragic if the progress that has been made towards gender equality was undone by a strong and public backlash."
The only way to achieve the 30 per cent target and accelerate progress, was "for all chairs and non-executive directors, both men and women, to work with us and encourage the disbelievers amongst their peers to engage with this issue."
ASX 200 companies with no women on their boards as at November 30,
- CIMIC Group
- Reliance Worldwide Corporation
- TPG Telecom
- Resolute Mining
- Evolution Mining
- ARB Corporation
- Flight Centre Travel Group
- Australian Agricultural Company
- Qube Holdings
- Flexigroup Ltd *
- Investa Office Fund
- National Storage REIT
- Independence Group
- Western Areas
- Mineral Resources
- Galaxy Resources
* Flexigroup Ltd has appointed two female directors to the board effective December 1, 2016.
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