Almost a quarter of Norway’s companies have failed to comply with a controversial law requiring them to increase the proportion of women on their boards to 40%, according to government figures. If they do not promote more women, they could be shut down.
The law, which introduced quotas, has been effective in raising the number of women board members at listed companies from 6% in 2001 to 37%.
Norway now boasts the highest proportion of women on boards in the world. Sweden comes second with 19%; the US has around 15%. In the UK, only 11% of directors were female in 2007.
The Norwegian government hailed the numbers as proof that quotas work.