This is a Norwegian initiative, inspired by the UK initiative of the same name launched by HM Treasury in 2016.

The Women in Finance Charter is owned by the Norwegian financial industry through the trade associations Finance Norway, the Norwegian Venture Capital & Private Equity Association, the Norwegian Securities Dealers Association and the Norwegian Fund and Asset Management Association, and is managed by FutureBoards AS.

"Norges Bank aims to recruit more women to executive positions, and we believe that the Women in Finance Charter can play a crucial role in reaching this objective", says Governor Ida Wolden Bache.

Four principles

By signing the Women in Finance Charter, Norges Bank commits itself to four principles that further the aim of increasing the proportion of women in executive positions.

1. Set internal targets for gender balance in executive positions
Norges Bank's objective is to have at least 40 percent women at Norges Bank as a whole, and a long-term goal of a gender balance at senior management level and specialist functions of 40 percent.

2. Have one person at an executive level with dedicated responsibility for following up gender balance
Governor Ida Wolden Bache will be responsible for following up the work for central banking operations and Norges Bank Administration. In Norges Bank Investment Management (NBIM), this responsibility lies with the CEO of NBIM, Nicolai Tangen. All managers are responsible for ensuring gender balance in their own teams.

3. Publish the status of and progress made towards gender balance targets
Progress and the status of gender balance targets will be followed up annually and published in Norges Bank’s Annual Report.

4. Link executive remuneration to the achievement of gender balance targets
This will be a criterion for executive performance assessments at Norges Bank.