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.
Norway intends to increase its total spending on defence and broader security to 5% of its GDP, Prime Minister Jonas Gahr Stoere announced on Friday, aligning with a proposed NATO-wide target.
Norway's King Harald and Queen Sonja visited the Arctic archipelago of Svalbard on Monday, marking 100 years of Norwegian sovereignty amid growing global interest in the polar region.
Norway is set to introduce a new tourist tax to address the challenges posed by record-breaking visitor numbers and overtourism in popular areas.
Magnus Carlsen suffered a shock defeat to China’s Wei Yi at Norway Chess 2025, just two days after beating world champion D Gukesh.
Nordic leaders on Monday pledged deeper cooperation to strengthen civil preparedness and resilience amid rising global instability, while reaffirming support for Ukraine and the two-state solution in the Israeli-Palestinian conflict.
Masked law enforcement officers have detained Archbishop Bagrat Galstanyan, leader of the 'Sacred Struggle' movement in Armenia. He is accused of preparing terrorist attacks and an alleged attempt to seize power, according to the Investigative Committee.
The United States is not planning to impose additional sanctions on Russia for now, aiming instead to keep diplomatic channels open to pursue a peace deal, Secretary of State Marco Rubio said.
U.S. Secretary of State Marco Rubio said Iran is now "much further away from a nuclear weapon" following recent U.S. airstrikes on Tehran’s nuclear sites, contradicting reports that the damage only caused minor delays.
Kazakhstan’s Prime Minister Olzhas Bektenov has announced a major reform initiative aimed at strengthening national sovereignty in the country’s space sector.
An historic mission began early on Wednesday (25 June) as astronauts from India, Poland, and Hungary were launched to the International Space Station (ISS) for their countries’ first-ever visit. They were joined by NASA veteran Peggy Whitson.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
New research highlights that naturally-regenerating forests, often overlooked in climate policies, could remove carbon up to eight times faster than newly planted trees.
Azerbaijan has been elected Chair of the United Nations Environment Programme’s (UNEP) key decision-making body, marking a first for the country and strengthening its role in global environmental policy.
Growers in Chile’s Atacama Desert are turning fog into water to grow crops, including lettuce and lemons, in one of the driest places on Earth.
More than 110 million people across Europe — or more than 20% of the population — are exposed to dangerous levels of transport noise that threaten human health, the environment, and economic stability, according to a new European Environment Agency (EEA) report released today (24 June).
A record 740 gigawatts of renewable energy capacity was added worldwide last year, but it's still not enough to meet a global goal to triple renewable capacity by 2030, according to a report by the Paris-based thinktank REN21 showed on Tuesday.
Masked law enforcement officers have detained Archbishop Bagrat Galstanyan, leader of the 'Sacred Struggle' movement in Armenia. He is accused of preparing terrorist attacks and an alleged attempt to seize power, according to the Investigative Committee.
The United States is not planning to impose additional sanctions on Russia for now, aiming instead to keep diplomatic channels open to pursue a peace deal, Secretary of State Marco Rubio said.
U.S. Secretary of State Marco Rubio said Iran is now "much further away from a nuclear weapon" following recent U.S. airstrikes on Tehran’s nuclear sites, contradicting reports that the damage only caused minor delays.
Kazakhstan’s Prime Minister Olzhas Bektenov has announced a major reform initiative aimed at strengthening national sovereignty in the country’s space sector.
An historic mission began early on Wednesday (25 June) as astronauts from India, Poland, and Hungary were launched to the International Space Station (ISS) for their countries’ first-ever visit. They were joined by NASA veteran Peggy Whitson.
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