Norway’s Sovereign Wealth Fund Sheds More Coal Mining Companies
Norges Bank Investment Management (NBIM), the investment manager of Norway’s Government Pension Fund Global, released a report on its work on responsible investments. The report also covered how the sovereign wealth fund would interact with listed companies during shareholder meetings.
The assets under management of the commodity-based sovereign wealth fund have grown dramatically, reaching well over US$ 800 billion in value. Unlike many large public asset owners, NBIM tries to engage with companies. The sovereign fund has positions in over 9,000 listed companies. According to NBIM, they held 2,641 meetings in 2014 with publicly-traded companies. In addition, the sovereign fund had supported 85% of board recommendation on resolutions at annual shareholder meetings.
Regulatory Risks, Dumps Coal Mining Companies from Portfolio
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