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JP Morgan Chase given bloody nose by climate resolution
20 May 2020JP Morgan Chase experienced a significant revolt from investors against its climate change position after nearly half voted in support of a shareholder resolution urging the US bank to align its financing to the Paris Agreement.
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Norwegian oil fund exits stakes in 12 firms on ESG concerns
13 May 2020The giant Norwegian oil fund has excluded a dozen companies from investment due to environmental, social, and governance (ESG) concerns, including mining giants such as Anglo American, Glencore and Vale in which it was a major shareholder.
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M&G and EOS support Barclays fossil fuel funding resolution
01 May 2020M&G Investments and EOS have confirmed they will support a shareholder resolution calling on Barclays to phase out its funding for fossil fuel firms, but Norway's sovereign wealth fund will not be supporting it.
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Norges Bank Investment Management appoints new CEO
30 March 2020Norges Bank has appointed Nicolai Tangen as the new CEO of Norges Bank Investment Management (NBIM).
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Planet Tracker: Investors exposed to unsustainable shrimp farming
09 January 2020Investment managers including BlackRock and State Street are exposed to shrimp farming companies facing major sustainability concerns, a report has claimed.
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Oil Fund aims for 1% of investments in renewables by 2022
12 November 2019The managers of the $1.1 trillion Norwegian sovereign wealth fund have set a target to invest about 1% of the fund’s value in renewables by 2022.
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People Moves: NBIM; BNP Paribas; Insurance Council of Australia; Solarcentury; Truvalue Labs; Triodos
01 November 2019Yngve Slyngstad, CEO of Norges Bank Investment Management (NBIM), has announced his resignation as leader, although he will continue to work for the sovereign wealth fund it manages.
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Largest fund managers oppose four-fifths of climate-related shareholder motions
14 October 2019Fund managers BlackRock and Vanguard have opposed or abstained on average over 80% of climate related shareholder motions between 2015 and 2019.
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Norway’s oil fund to dump $5.9bn of equities in oil stocks
02 October 2019Norway’s $1 trillion sovereign wealth fund is to “gradually phase out” about NOK54 billion ($5.9 billion) worth of stocks in crude oil producers, the country’s Ministry of Finance said.
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Sovereign wealth funds get advice on climate risks
29 July 2019Advice on how sovereign wealth funds (SWFs) can integrate climate change into their investment processes and governance has been produced by the Sustainable Finance Programme, a research group at the University of Oxford.