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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments, Fund Management/Administration

Call for Norway’s oil fund to pull its weight

Posted on 06 July 2015

Norway’s oil fund came under attack from several of Sweden’s largest investors over concerns that the world’s biggest sovereign wealth fund is not applying rigorous oversight to the companies it invests in.
The criticism levelled at Norges Bank Investment Management (NBIM), which manages the oil fund’s $912 billion (Dh3.34 trillion) of assets, comes in response to its perceived indifference to one of the biggest financial scandals in Sweden in recent history. The scandal, which has tarnished Sweden’s image as a haven for ethical business practices, revealed corruption around expense claims and the misuse of corporate jets at SCA, the paper company………………………………………..Full Article: Source


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