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Oil fund CEO rebukes framing ESG as political

”For me, ESG is not politics – it is common sense,” says the CEO of Norway’s sovereign wealth fund in a new sustainability report, also explaining why the fund divested a longer list of companies last year.
Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM). | Photo: NBIM PR.
Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM). | Photo: NBIM PR.
by REETA ILONA PAAKKINEN

ESG was increasingly portrayed as political last year, says Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), in a fresh sustainability report made by the gigantic sovereign wealth fund. 

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The environmental, social and governance ratings of exchange-traded funds are set to be downgraded by index provider MSCI. | Foto: Delcia Lopez/AP/Ritzau Scanpix

Hundreds of funds set to lose ESG rating