Oil fund's tie to Amnesty offers clarity on 'S' in ESG

As fund managers everywhere adapt to environmental, social and governance investing principles, there’s a growing consensus that the "S" in the acronym ESG leaves the most room for misinterpretation.

Carine Smith Ihenacho, chief corporate governance officer at the wealth fund, says it's "quite clear that the S" in ESG "is in many ways harder to quantify" than the E. | Photo: PR / NBIM

But a unique setup in Norway may help provide clarity.

Norges Bank Investment Management, the world's biggest wealth fund with USD 1.4tn in assets under management, is about to update its approach to dodging ESG risk. The idea is to screen companies before they're added to the portfolio, rather than just relying on indexes.

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