OSLO (Reuters) - Norway’s $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.
- Coalition Members News
The Carlyle Group ties a $4.1 billion credit line to board diversity
The Carlyle Group’s diversity effort is part of an “integrated approach to building better businesses,” said Carlyle’s chief executive, Kewsong Lee
The private equity firm Carlyle Group plans to announce on Wednesday a $4.1 billion credit line for its portfolio companies that will tie the price of debt to the diversity of a company’s board, the DealBook newsletter reports.
- In the News
Corporate Boards Will Get More Diverse In 2021
A bold proposal by the Nasdaq stock exchange early this month may give U.S. corporate boards the biggest nudge yet to seat diverse directors increasingly seen as key to both good business and social justice as investors across industries focus more on melding the two.
Exchange acts as investors and regulators seek better representation of wider range of people
Nasdaq is moving to increase diversity on the boards of its listed companies amid growing pressure from investors and state laws for greater inclusion of under-represented groups – or at least disclosure around the issue.
- References&research
MSCI – Women On boards – 2020 report
A slowdown in the pace of change
MSCI ESG Research LLC has reported annually on the state of women’s representation on corporate boards since 2009. The 2020 progress report provides an overview of gender diversity at the corporate boards and C-suites of the 2,907 constituents of the MSCI ACWI Index as of Oct. 30, 2020.
...we find that banks with more gender diversity on their board perform better once the composition of these boards reaches a critical level of gender diversity, corresponding to a board female share of around 13-17 percent.
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