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World’s biggest wealth fund accelerates transparency push

Norway’s EUR 1 trilion wealth fund will publish all voting intentions ahead of shareholder meetings from 2021, which is at least one year earlier than previously indicated.

Norway's wealth fund's outgoing Chief Executive Officer Yngve Slyngstad | Photo: NBIM

The world’s biggest sovereign investor says it wants to be more transparent in how it exercises its ownership, in a bid to promote good corporate governance and similar goals, including environmental standards. The fund has already started explaining its reasoning when it votes against company boards.

“Our intention is to provide more information to the market and to be fully transparent about how we use our voting rights,” Norges Bank Investment Management, said in a report on Friday, as part of a review of its work on responsible investment over the past 20 years.

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