Corporate Social Responsibility is popularly reduced to 3 Ps - People, Planet & Profit. It's about how well a company can make a profit in a responsible manner - CSR is never looking at just one aspect of the company - but at it as a whole.
In 2018 Sustainify started working on rating listed companies on their Corporate Social Responsibility – so investors can make responsible investments.
As part of the rating of listed companies Sustainify started by looking at the P for People and the gender balance in the decision-making layers - more precisely the boardrooms and top management.
We start off with looking closer at the 4 Nordic countries - Norway, Finland, Sweden and Denmark - and their largest and most traded companies.
In Denmark the C25 is 25 companies traded at Nasdaq in Copenhagen. In Sweden the S30 is 30 companies traded at Nasdaq in Stockholm. In Finland the H25 is 25 companies traded at Nasdaq in Helsinki and in Norway the O25 is 25 companies traded at Stock Exchange in Oslo.
Together it is 105 of the largest and most traded listed companies in the Nordic countries - a place to start.
When it comes to CEOs in the Nordic companies combined we found 7% female CEOs.
Out of 105 companies - 98 of them are led by men - leaving 7 companies with a female CEO in charge of the daily orperations.
Out of the 4 countries Norway O25 has the highest number of female CEOs at 12% in 2019. Denmark C25 has the second highest number of female CEOs with 8%.
Finland H25 has 4% female CEOs and Sweden S30 is at the bottom of the 4 Nordic countries with 3%.
When it comes to Chairman of the Boards in the Nordic companies we found 10% female Chairmen in 2019 - that is 10 women as leader in the boardrooms out of 105 companies all together.
Here Sweden S30 has the highest number of female chairmen of boards with 17%, followed by Norway O25 with 12%.
Both Denmark C25 and Finland H25 has 4% female chairmen of the boards in 2019.
In the board of directors in the 105 Nordic companies, Sustainify found 1019 board members - 355 of them were women – approximately 35%.
Norway O25 has the most female board members with 38% followed by Sweden S30 with 36%.
Finland H25 has 35% female board members in 2019 and Denmark C25 at the bottom out of the 4 countries with 31%.
In Executive management in the 105 Nordic companies we found 22% women all combined.
If we look at the countries individually Norway O25 has 26% female representation in executive management, followed by the second highest out of the 4 countries - Sweden S30 with 23 %.
Denmark C25 and Finland H25 has reached 20% and 14% of female representation in their executive management.
Sustainify will continue to track the nordic companies and their gender balance so investors can see their development and use it when assessing a future investment.