On Tuesday, DNB brought to light economic gaps between the sexes with a "light show" on the Oslo Stock Exchange building. The light show was highlighting the following facts:
“Men own 80 percent of private equity values in Norway
“We think this bias is rather serious, which is why we want to do something about it. We see that while the differences in wage income are declining, the difference in capital income is large and is likely to increase,” says Anette Hjertø, Asset Manager at The Norwegian Bank (DNB).
Female representation at the Nordic Investor Day, held last week in Copenhagen, reflected this bias with approximately 90 percent male versus 10 percent female investor representatives.
Norway is, like Denmark and Sweden, one of the world's most equal countries, “but [Norway] still has a way to go, when it comes to economic equality,” states DNB.
The numbers have been taken from a survey conducted by Menon Economics for DNB, with statistics from Statistics Norway, the Oslo Stock Exchange and the Norwegian Securities Centre.
The Norwegian Bank wants to close the gap between the sexes so that women can also participate more in the return of the stock exchange.
DNB points out that men and women differ from one another on the economic playing field, and it is never in the woman's favour.
For centuries, men have earned more than women. Lately, it is due to higher wages. However, it is also due to the net worth among men being significantly higher than women, and the fact that men invest larger sums of money into stocks and funds than women do.
Even with equal pay, women would have earned 53 billion Norwegian Kronor less than men in 2018, according to Menon and Statistics Norway.
Hjertø concludes: “It means that you have less power and influence and self-right over your own life. Women live longer than men on average, and it’s even more so important that women have a plan for their savings and investments.”
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