The CEO of Sweden’s largest pension fund Alecta has said that unless governments step up their climate efforts, he does not see how the fund can meet its Net Zero ambitions, given the requirement to hold substantial amounts of sovereign debt. Sovereign debt an obstacle to meeting Net Zero goals, says CEO of Sweden’s biggest…
Tag: sovereign wealth funds
Norwegian oil fund excludes two Israeli companies for West Bank activities | Financial Times
The world’s largest sovereign wealth fund has excluded two Israeli companies for constructing and letting out buildings in Israel’s settlements in the occupied West Bank, the first time it has made such a move in almost a decade. Norway’s $1.3tn oil fund said late on Wednesday that it had sold out of Shapir Engineering and…
Qatar Sovereign Wealth Fund Implicated in Possible Trump Corruption Charge
Just as Qatar wanted to reverse US policy its sovereign wealth fund made a mysterious lease agreement with an entity that funnels the money to President Donald Trump, despite his promise, just before he was sworn in as President, that he would not benefit in any way from non-US payments to his companies. And after…
Billion Dollar Looting of Malaysian Sovereign Wealth Fund — Former Prime Minister Convicted on All Seven Counts
As Doonsbury’s Uncle Duke put it so memorably, “But the pension fund was just sitting there!” The temptation to look money set aside for working people is a constant threat, as shown in two current headlines about the Malaysian sovereign wealth fund. A Malaysian court sentenced former Prime Minister Najib Razak to serve 12 years…
Should a Pension Fund Try to Change the World?
In a new case study, Harvard Business School professors Rebecca Henderson and George Serafeim discuss the efforts of Hiro Mizuno, CIO of GPIF, the Japanese Government Pension Investment Fund, one of the largest pools of capital in the world, to integrate Environmental, Social and Governance (ESG) issues into every aspect of GPIF’s portfolio. Mizuno believed the only way to…
Framework on Climate Change | International Forum of Sovereign Wealth Funds
President Emmanuel Macron of France and Prime Minister Erna Solberg of Norway convened a roundtable discussion with the One Planet Sovereign Wealth Fund Working Group (“One Planet SWF Group”) at the Elysée Palace followed by a press conference, to mark the publication of the One Planet Sovereign Wealth Fund Framework (“the Framework”).The objective of the…
Norges Bank Investment Management backs “gadfly” governance investor McRitchie at Kellogg – Responsible Investor
The support by the world’s largest fund for a shareholder resolution calling for annual election of all directors filed by an individual is a development of enormous significance, especially since it was announced ahead of the vote to nudge other investors to support it as well. This is especially important right now because, as the…
Norway to ditch oil stocks from Norges Bank fund – Central Banking
Norway’s government has asked the central bank to sell any oil stocks held in its sovereign wealth fund, after a review concluded this would reduce the economy’s exposure to oil price risk.The Government Pension Fund Global, managed by Norges Bank, is built on the revenues from Norway’s oil industry. But by investing in stocks related…
Mark Gilbert Has Forgotten the Meaning of Capitalism
On Bloomberg, Mark Gilbert asks: Should the investment arm of one sovereign nation be using its financial muscle to influence salary policies in other sovereign nations, setting principles which then guide how it votes in particular examples? It isn’t surprising that he gets the wrong answer, calling the sovereign wealth fund’s votes against excessive compensation…
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