Norway’s Sovereign Fund Flexes Muscle to Influence Corporate Change


Norway’s sovereign wealth fund is increasingly flexing its muscle to influence and alter the behavior of publicly-listed companies. The massive wealth fund, which derived its cash pot from crude oil, has an extensive corporate governance policy providing guidance on areas such as labor regulations, executive compensation, water management, environmental impact, munitions and bombs, and climate change contributions. For example, in May 2016, Norges Bank Investment Management (NBIM), joining with other asset owners like California Public Employees’ Retirement System (CalPERS), insisted U.S. oil giants Chevron and Exxon Mobil Corporation to disclose more about the perils and risks of climate change. NBIM voted in favor of climate-change risk reporting for the two companies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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