The world’s largest sovereign wealth fund, valued at $1.8 trillion, is criticized for not meeting its climate goals, voting against 17 of 21 key climate resolutions this year, despite aiming for net-zero emissions by 2050 in line with the Paris Agreement.
The world's largest sovereign wealth fund, valued at $1.8 trillion, is falling short of its climate goals, according to a recent report by the Norwegian NGO Framtiden i vaare hender (Future in our Hands).
Established to manage revenue from Norway's oil and gas production, the fund aims for its 9,000 investments to achieve net-zero greenhouse gas emissions by 2050, in line with the Paris Agreement.
Norges Bank Investment Management (NBIM), which oversees the fund, sets climate expectations for corporate boards and votes on shareholder resolutions at annual general meetings. However, the report found that NBIM voted against 17 out of 21 significant climate resolutions this year, often siding with company management rather than climate lobby groups.
Lucy Brooks, a sustainable finance advisor at the NGO, noted that while the fund has been consistent in opposing excessive executive pay, it has been less reliable in supporting critical climate resolutions. NBIM defended its voting record, stating that it considers materiality, prescriptiveness, and scope when evaluating shareholder proposals.
In the first half of 2024, the fund supported 31% of sustainability-related proposals, a rate consistent with 2023.
Ukrainian President Volodymyr Zelenskyy has accused Russia of a deadly drone strike on a Türkiye-owned cargo ship in the Black Sea, killing it...
Regional powers gathered in Moscow on Monday for talks on Afghanistan, focusing on security, economic cooperation and Kabul’s relations with ...
Iranian Foreign Minister Abbas Araghchi and his Armenian counterpart Ararat Mirzoyan held talks in Tehran on Monday on bilateral ties and efforts t...
Iran's Oil Minister Mohsen Paknejad has resigned, with Hamid Bovard, chief executive of the state-owned National Iranian Oil Company (NIOC), appointed as acting oil minister, according to Iranian state media.
Right-wing Brazilian Senator Flavio Bolsonaro will face leftist President Luiz Inacio Lula da Silva in a runoff of the presidential election later this month, after he exceeded expectations in Sunday's first-round vote with a slight lead over the incumbent.
Candidates elected to Bosnia and Herzegovina's three-member presidency declared victory after preliminary unofficial results showed Denis Becirovic leading the Bosniak seat, Darijana Filipovic ahead in the Croat seat and Zeljka Cvijanovic likely retaining the Serb seat.
Iran says the Strait of Hormuz will remain closed until the United States meets seven conditions agreed under a June memorandum, as President Donald Trump signals he may soon decide whether to resume military operations against Tehran.
Uzbekistan’s grape exports have grown rapidly. In January-August 2025, the country exported 86,200 tonnes of fresh grapes worth $78.3 million to 19 countries but can it turn these crops into a recognisable international product?
Türkiye’s COP31 presidency has unveiled an action agenda designed to turn climate commitments into concrete projects and measurable results, focusing on clean energy, waste reduction, resilient cities and industrial decarbonisation.
Greenland and Antarctica have shed a combined 11.3 trillion tonnes of ice since 1979, according to the most comprehensive satellite study of the planet's ice sheets to date, with researchers warning the pace of loss has accelerated sharply in recent decades.
The European Union will continue allowing large-scale plastic waste exports to Türkiye despite concerns over recycling rates, environmental damage and the risk of illegal waste trafficking.
Hundreds of thousands of deep-diving turtles, known as olive ridley sea turtles, have arrived on Mexico’s southern coast for one of nature’s most striking nesting events. But conservation officials warn that climate change is making it increasingly difficult for their eggs to hatch.
August 2026 tied as the hottest month ever recorded globally, pushing average temperatures above the critical 1.5°C threshold as extreme weather swept across several regions, the EU’s Copernicus Climate Change Service said.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment