Norway's US$1.3 trillion sovereign wealth fund, the world's largest, wants the companies it invests in globally to boost the number of women on their boards and to consider setting targets if fewer than 30% of their directors are female, top fund officials told Reuters. One of the world's largest investors, the fund holds stakes in around 9,200 companies worldwide, owning 1.5% of all listed stocks...
We may phrase it politely, but it is pretty clear what we think.
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.
We will start with developed markets and at companies where women are underrepresented, at large and mid cap companies in the US and Europe.
But what is relevant for all countries is that women in general are underrepresented and that is why we have a target (on gender).
We really think diversity creates better thinking and better creativity and better business, really.
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