Oil fund has cut 300 firms in a decade due to ESG risk

Norway's USD 1.4trn wealth fund has exited hundreds of companies over the past decade to avoid the environmental, social and governance risk it says they represented.
Sustainabilty has been higher on the agenda at NBIM since Nicolai Tangen took over as CEO of the oil fund. | Photo: Tony Colli/PR
Sustainabilty has been higher on the agenda at NBIM since Nicolai Tangen took over as CEO of the oil fund. | Photo: Tony Colli/PR
By Lars Erik Taraldsen, BLOOMBERG

Since 2012, Norges Bank Investment Management has offloaded about 300 stocks as a result of ESG screening results, Chief Corporate Governance Officer Carine Smith Ihenacho says.

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