Norway Announces Private Investments To Benefit Companies With Senior Female Employees
The country is to invest in companies with at least 30% females employed on their boards....
Norway announced this week that their Sovereign Wealth Fund will be invested into companies employing at least 30% women on their boards. The decision comes after the country announced many new initiatives to be in place by 2022.
“What we want to see is better representation of women on the boards. Diversity is good for the board because it brings better perspective, it is better for decision-making and increasingly important for the legitimacy of companies” said Carine Smith Ihenacho, chief governance and compliance officer of Oslo’s Central Bank Financial Institution.
The initiative fund was originally started in the ’90s, to be used for investing in the country’s oil and gas revenues overseas. Since then the fund has grown, investing in over 9,200 companies in the last three decades. Norway not only aims to bridge equality between all genders but due to the countries global financial influence, this could have a strong impact economically and not just ethically.
The issue of gender equality and the gender pay gap has been hot news this year, following the social and political movement #blacklivesmatter, which sparked social change not only with the worlds racial issues but gender, sexuality and equality.
Female CEO's of Norway unite! We can’t wait to see this spread globally.
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