Nordic business diversity index
2024
Join us on this journey as we assess the diversity of senior leadership in the Nordics, explore the hurdles that persist, and illuminate the pathways to a more inclusive future of corporate leadership.
This year's top performing companies
The Nordic Business Diversity Index scores companies up to 100 points, split evenly between Executive Management and Board of Directors, based on Gender, Age, Nationality, and Education, with each variable contributing up to 12.5 points. Gender scores are higher for gender-balanced teams, plus bonus points for female leadership roles. Age, nationality, and education are scored on diversity within the team. These variables are chosen for their public availability and relevance to corporate governance standards.
Although extremely limited, they offer a foundational perspective on diversity in leadership. For a detailed methodology, please refer to the full report.
Nordic Top Performers
Company | Score |
---|---|
🇸🇪Orrön Energy | 89.5 |
🇸🇪Embracer Group | 89.5 |
🇩🇰Genmab | 88 |
🇩🇰Össur | 86 |
🇸🇪BYGGFAKTA GROUP | 85 |
🇩🇰DFDS | 85 |
Large Cap | |
---|---|
🇸🇪Orrön Energy | 89.5 |
🇸🇪Embracer Group | 89.5 |
🇩🇰Genmab | 88 |
🇩🇰Össur | 86 |
🇸🇪BYGGFAKTA GROUP | 85 |
🇩🇰DFDS | 85 |
Mid Cap | |
---|---|
🇸🇪Calliditas Therapeutics | 87 |
🇸🇪G5 Entertainment | 85 |
🇩🇰Gubra | 85 |
🇸🇪Ambea | 84.5 |
🇫🇮Anora | 84.5 |
Small Cap | |
---|---|
🇸🇪Ascelia Pharma | 90 |
🇸🇪Alligator Bioscience | 88.5 |
🇸🇪Abliva | 87 |
🇸🇪Dedicare | 85.5 |
🇸🇪Karolinska Development | 82.5 |
Ascelia Pharma, a small cap company, received the highest score of all companies in the Nordics for 2024.
Top 15 Large Cap
Rank | Company | Score |
---|---|---|
1. | Citycon | 83.5 |
2. | Uponor | 83 |
3. | Sampo | 82 |
4. | Nokia | 81.5 |
5. | Revenio Group | 80 |
6. | Konecranes | 77.5 |
7. | Orion | 75 |
8. | Fiskars Group | 74.5 |
9. | Outokumpu | 74.5 |
10. | Wärtsila | 73.5 |
11. | Huhtamaki | 73 |
12. | Stora Enso | 72 |
13. | Metso | 72 |
14. | Nordea Bank | 71.5 |
15. | Fortum | 71.5 |
Rank | Helsinki | |
---|---|---|
1. | Citycon | 83.5 |
2. | Uponor | 83 |
3. | Sampo | 82 |
4. | Nokia | 81.5 |
5. | Revenio Group | 80 |
6. | Konecranes | 77.5 |
7. | Orion | 75 |
8. | Fiskars Group | 74.5 |
9. | Outokumpu | 74.5 |
10. | Wärtsila | 73.5 |
11. | Huhtamaki | 73 |
12. | Stora Enso | 72 |
13. | Metso | 72 |
14. | Nordea Bank | 71.5 |
15. | Fortum | 71.5 |
Stockholm | |
---|---|
Orrön Energy | 89.5 |
Embracer Group | 89.5 |
BYGGFAKTA GROUP | 85 |
Vitrolife | 84.5 |
Arjo | 83 |
Sinch | 82 |
Stillfront Group | 82 |
Swedish Orphan Biovitrum | 82 |
Telia Company | 81.5 |
Cint Group | 81.5 |
Medicover | 80 |
Truecaller | 80 |
Viaplay Group | 80 |
Hemnet Group | 79.5 |
Elekta | 78.5 |
Copenhagen | |
---|---|
Genmab | 88 |
Össur hf | 86 |
DFDS | 85 |
Novozymes | 81.5 |
Iss | 81 |
Bavarian Nordic | 80 |
NKT | 80 |
Rockwool | 80 |
GN Store Nord | 80 |
Danske Bank | 79.5 |
Coloplast | 77.5 |
Tryg | 75 |
Chr Hansen Holding | 74.5 |
Topdanmark | 72.5 |
Øersted | 72 |
Top 15 Mid Cap
Rank | Company | Score |
---|---|---|
1. | Anora Group | 84.5 |
2. | Musti Group | 82 |
3. | F-Secure | 80 |
4. | Suominen | 80 |
5. | Taaleri | 80 |
6. | WithSecure | 80 |
7. | Purmo Group | 77.5 |
8. | Ålandsbanken | 77 |
9. | Tecnotree | 76.5 |
10. | Oriola | 75.5 |
11. | Marimekko | 75 |
12. | Scanfil | 75 |
13. | Caverion | 72.5 |
14. | Stockmann | 71.5 |
15. | Enento Group | 71.5 |
Rank | Helsinki | |
---|---|---|
1. | Anora Group | 84.5 |
2. | Musti Group | 82 |
3. | F-Secure | 80 |
4. | Suominen | 80 |
5. | Taaleri | 80 |
6. | WithSecure | 80 |
7. | Purmo Group | 77.5 |
8. | Ålandsbanken | 77 |
9. | Tecnotree | 76.5 |
10. | Oriola | 75.5 |
11. | Marimekko | 75 |
12. | Scanfil | 75 |
13. | Caverion | 72.5 |
14. | Stockmann | 71.5 |
15. | Enento Group | 71.5 |
Stockholm | |
---|---|
Calliditas Therapeutics | 87 |
G5 Entertainment | 85 |
Ambea | 84.5 |
BioInvent | 82.5 |
Fingerprint Cards | 82.5 |
Biogaia | 82 |
Elos Medtech | 81 |
Sedana Medical | 80 |
Xvivo Perfusion | 78.5 |
Hansa Biopharma | 77.5 |
Humana | 77 |
Alimak Group | 76 |
Netel Holding | 75.5 |
Eltel | 75 |
Copenhagen | |
---|---|
Gubra | 85 |
Brødrene A&O Johansen | 77 |
NNIT | 72.5 |
Green Hydrogen Systems | 65 |
Tivoli | 62 |
RTX | 45 |
Top 15 Small Cap
Rank | Company | Score |
---|---|---|
1. | Siili Solutions | 76 |
2. | Martela | 75 |
3. | Biohit | 75 |
4. | Nurminen Logistics | 73 |
5. | Solteq | 70 |
6. | Orthex | 69.5 |
7. | Enersense | 68.5 |
8. | Exel Composites | 67.5 |
9. | Endomines Finland | 65 |
10. | Glaston | 65 |
11. | Honkarakenne | 63.5 |
12. | Apetit | 62.5 |
13. | Ilkka | 62.5 |
14. | Boreo | 62.5 |
15. | Alisa Pankki | 60 |
Rank | Helsinki | |
---|---|---|
1. | Siili Solutions | 76 |
2. | Martela | 75 |
3. | Biohit | 75 |
4. | Nurminen Logistics | 73 |
5. | Solteq | 70 |
6. | Orthex | 69.5 |
7. | Enersense | 68.5 |
8. | Exel Composites | 67.5 |
9. | Endomines Finland | 65 |
10. | Glaston | 65 |
11. | Honkarakenne | 63.5 |
12. | Apetit | 62.5 |
13. | Ilkka | 62.5 |
14. | Boreo | 62.5 |
15. | Alisa Pankki | 60 |
Stockholm | |
---|---|
Ascelia Pharma | 90 |
Alligator Bioscience | 88.5 |
Abliva | 87 |
Dedicare | 85.5 |
Karolinska Development | 82.5 |
SAS | 82.5 |
Svedbergs Group | 81 |
Q Linea | 78 |
Oncopeptides | 75.5 |
Episurf Medical | 75 |
Orexo | 72.5 |
Egetis Therapeutics | 71 |
B3 Consulting Group | 70 |
Boule Diagnostics | 70 |
Cantargia | 70 |
Malmbergs Elektriska | 70 |
Copenhagen | |
---|---|
Bioporto | 75 |
The BANK of Greenland | 68.5 |
Rias | 52 |
Icelandic Top Performers
Rank | Company | Score |
---|---|---|
1. | Amaroq Minerals | 82.5 |
2. | Alvotech | 80 |
3. | Arion Banki | 75 |
4. | VIS Insurance | 72.5 |
5. | Eimskipafélag Íslands | 72 |
6. | Sjóvá-Almennar | 64.5 |
7. | Reitir fasteignafélag | 63.5 |
8. | Festi | 62.5 |
9. | Reginn | 58.5 |
10. | Kaldalón | 58.5 |
11. | Síminn | 56 |
12. | Íslandsbanki | 49 |
13. | Marel | 48.5 |
14. | Kvika banki | 48.5 |
15. | Ísfélag | 47.5 |
Rank | Iceland | |
---|---|---|
1. | Amaroq Minerals | 82.5 |
2. | Alvotech | 80 |
3. | Arion Banki | 75 |
4. | VIS Insurance | 72.5 |
5. | Eimskipafélag Íslands | 72 |
6. | Sjóvá-Almennar | 64.5 |
7. | Reitir fasteignafélag | 63.5 |
8. | Festi | 62.5 |
9. | Reginn | 58.5 |
10. | Kaldalón | 58.5 |
11. | Síminn | 56 |
12. | Íslandsbanki | 49 |
13. | Marel | 48.5 |
14. | Kvika banki | 48.5 |
15. | Ísfélag | 47.5 |
Key insights from this year's report
Gender representation
Female
Male
Helsinki Large Cap
Helsinki Mid Cap
Helsinki Small Cap
Stockholm Large Cap
Stockholm Mid Cap
Stockholm Small Cap
Copenhagen Large Cap
Copenhagen Mid Cap
Copenhagen Small Cap
Iceland All Caps
10,3%
is the percentage of female CEOs in 631 companies.
Age distribution
0%
of board members were born in the 1950s or 1960s.
0%
of executive team members were born in the 1960s or 1970s.
Education
Helsinki Large Cap
Helsinki Mid Cap
Helsinki Small Cap
Stockholm Large Cap
Stockholm Mid Cap
Stockholm Small Cap
Copenhagen Large Cap
Copenhagen Mid Cap
Copenhagen Small Cap
Iceland All Caps
Business
Law
Engineering
Other
54%
of people in the board and executive team have a business-related educational background.
Nationality
0%
of the boards and executive teams have Nordic nationalities.
0%
of the boards and executive teams have non-European nationalities.
Typical
So... here's your typical Nordic
Male
90% of CEOs are male.
54 years old
54 years
Only 3% of CEOs are under 35 years old.
Business education
58% of CEOs have education in Business.
Local nationality
87% of CEO are from the same country as the company is listed in.
Thoughts
When leadership in our societies and companies reflects diverse backgrounds, we send the message that opportunity and success is not limited to a closed, homogeneous group. Additionally, representation empowers those who have traditionally been left voiceless, and it encourages all of us to encounter our unconscious biases and learn about people who are different from us. As individuals we are scared and as organisations unprepared to welcome diversity and to walk the extra mile to ensure our workplaces are inclusive.
Impaktly challenges you: expand your circles, practice empathy, be a role model and if you are in a position of power, use your power to make the change.
Driving systematic DEI transformation
To achieve meaningful change, companies need to treat DEI as any change initiative—it needs unwavering support from leadership and tangible actions at all levels of the organisation.
Set clear goals
Assess status quo to understand where the organisation is at. Focus on demographics, analyse processes & practices and deep-dive into company culture. Continue by setting concrete and timebound goals that reflect your organisations’ starting point and the change that needs to happen.
Identify key actions
Identify the critical first actions and develop a strategic roadmap to guide your way, measure and manage your DEI work and seek regular feedback from your critical stakeholders.
Build inclusive leadership culture
Leaders and managers play a crucial role in building and leading diverse teams. Build inclusive leadership systematically: ensure integration into KPIs, leadership principles, competence development and processes to propel transformation.
Integrate in processes
Change is tangible actions taken everyday across the organisations and functions. Define together with different teams how DEI becomes a systematic part of processess, such as recruitment, employee experience, career development, innovation practices, brand, product and service design and marketing.
Provide tools for action
Support the change by making sure the different functions across the organisation have tools to act. Start by building foundational awareness, and then move to enabling actions by providing data and shared tools.
Strive towards inclusive customer experience
DEI is an opportunity to change the way how companies interact with their customer base: how they design and deliver inclusive experiences that cater for diverse audiences. It offers a significant business opportunity, but above all it offers a profound opportunity to make a positive impact on peoples’ lives.
Interested in featuring us?
Behind the Nordic Business Diversity Index, the most extensive business diversity ranking in the Nordics, is a team of social responsibility professionals from leading sustainability consulting group Impaktly.
Impaktly is a sustainability consultancy that helps clients define and accelerate sustainability transformations. Our advisors are experts in their field of environmental and social sustainability, business strategy, service design and data & technology. By leveraging our expertise, we help our clients embed sustainability at scale across the organization to make core businesses resilient and unlock new business opportunities.
Our DEI professionals like to talk about diversity, equity and inclusion and the interconnectedness of these with business and society. Please do not hesitate to reach out, if you need support on your journey!