Norway SWF pioneers new activist approach at BP and Shell AGMs

nbim-chief-yngve-slyngstad
CEO at NBIM, Yngve Slyngstad

The Norwegian sovereign wealth fund has set a new precedent in its ethical investment approach, by announcing how it intends to vote at the annual general meeting (AGM) of oil and gas giant BP in London on April 16.

Norges Bank Investment Management (NBIM), the fund manager that is part of Norges Bank, says it would vote in favour of a shareholder resolution calling for more in-depth reporting of climate change risks by BP, and for a similar resolution that will be proposed at Shell's AGM on May

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