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Norway proposes 40% gender quota in large unlisted companies in a bid to break the glass ceiling

The Norwegian government has proposed a 40% quota per gender. PA

Oslo: The Norwegian government on Monday proposed a bill to shut down companies that do not have at least 40% women on their boards. This decision should break the glass ceiling that prevents women from occupying positions of responsibility.

In 2005, Norway became the first country to introduce a 40% quota for women in all listed companies in the country.

The industry minister in Oslo said in a statement: “Companies are not good enough to use the skills of both sexes. It is high time to make these changes.

Currently, the quota of women in private companies is 20%, compared to 15% twenty years ago.

According to a Reuters report, Equality Minister Anette Trettebergstuen said: “It took 20 years to increase the share by 5 percentage points. If we continue at this rate, we will never achieve our goal (to have gender parity). »

However, the bill will not apply to small businesses or private companies for being “appropriate and not (being) more extensive than necessary”.

The bill is expected to affect about three to seven percent of private businesses.

EU passes law to break glass ceiling

Last month, the European Union passed the “Women on Boards” law, according to which women must represent at least 40% of the non-executive members of the boards of directors of large companies.

The law will enter into force in mid-2026. In addition to the 40 percent quota, it will also require that at least one-third of all businesses have women at the head of the business.

The rules also state that if two candidates with the same qualifications apply, the underrepresented sex must be given priority. Failure to comply may result in a fine or cancellation of the contested director’s appointment.

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