Norway’s sovereign wealth fund – the world’s biggest single owner of listed shares – has firmed up its attitude towards gender diversity within corporate boards, saying firms where either gender had representation of less than 30% should consider targets and report on progress.
Setting out its official stance as an asset owner on board diversity in a new position paper, Norges Bank Investment Manager (NBIM) said: “While there are many different dimensions to diversity, we are particularly concerned by persistent underrepresentation of women on boards.”
The central bank arm made three main points on board diversity in the paper.
Firstly, it said boards should ensure they could bring a broad range of perspectives and approaches to decision-making.