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 has unveiled its first national security strategy, emphasizing stronger ties with European allies and Nordic neighbors while reaffirming its NATO commitments amid changing global dynamics.
Norway's PM Jonas Gahr Stoere and Finance Minister Jens Stoltenberg will meet U.S. President Trump on Thursday to discuss NATO, Ukraine, global security, and trade, amid recently imposed U.S. tariffs on imports of Norway, now lowered temporarily.
"Ukraine needs a steady supply of artillery shells in order to maintain its fight for freedom against the Russian invading forces," - said Prime Minister Jonas Gahr Støre. Norway will provide around $460 million in funding this year to supply Ukraine with artillery ammunition.
The Norwegian Government has decided to provide a total of NOK 3 billion in humanitarian support to Ukraine and to the refugee response in Ukraine’s neighbouring countries in 2025.
The tripling of Norway’s defense support approved by the parliament will be immediately transformed into artillery, ammunition, drones, and investments in Ukraine’s domestic production base, the Norwegian Prime Minister stated following to the meeting with Volodymyr Zelenskyy.
Explosions were heard in Rawalpindi and Islamabad around 2:30 a.m. local time as a ballistic missile attack targeting Nur Khan Airbase was intercepted, according to Pakistani security sources.
The Pakistan military has alleged that India fired six ballistic missiles that fell within its own borders.
A diver has died during early recovery operations for British tech tycoon Mike Lynch’s sunken superyacht off the coast of northern Sicily, Italian police confirmed Friday.
A fire on a British Airways Boeing 777 at Gatwick Airport last June was caused by a co-pilot mixing up his left and right hands during take-off, according to a report by the UK’s Air Accidents Investigation Branch (AAIB).
High tariffs are expected to remain a core feature of Donald Trump's trade policy even after new trade agreements are reached, according to several current and former advisers who spoke with Reuters.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
A Rafale fighter jet operated by the Indian Air Force has reportedly been shot down for the first time in combat, according to sources cited by CNN, marking a significant and symbolic development in the ongoing escalation between India and Pakistan.
Azerbaijan showcased its green transition plan at the Copenhagen Ministerial, targeting 30% renewable energy by 2030. The country also secured a $300 billion climate finance pledge and helped finalize a key carbon market agreement, highlighting its growing role in global climate action.
Ahead of COP30 in Belem, Brazil is pushing for the creation of new global governance mechanisms to help nations implement their climate commitments under the Paris Agreement, citing an urgent need to accelerate action.
Latest data show dwindling river flows and worsening drought: these conditions are triggered by warmer-than-average weather and lower precipitation across much of the continent since the beginning of the year, according to the Drought in Europe – April 2025 report, published by the JRC.
In a boost for the green transition in the Middle East and North Africa, a joint guarantee agreement worth €300 million to facilitate the green transformation of urban areas and support the development of green hydrogen market in the Middle East and North Africa has been signed.
Transitioning to green agriculture requires a fundamental shift in budget priorities, sustainable practices, and consumer behavior, the UN Food and Agriculture Organization (FAO) emphasized at the 4th Agribusiness Development Forum held in Baku
Explosions were heard in Rawalpindi and Islamabad around 2:30 a.m. local time as a ballistic missile attack targeting Nur Khan Airbase was intercepted, according to Pakistani security sources.
The Pakistan military has alleged that India fired six ballistic missiles that fell within its own borders.
A diver has died during early recovery operations for British tech tycoon Mike Lynch’s sunken superyacht off the coast of northern Sicily, Italian police confirmed Friday.
A fire on a British Airways Boeing 777 at Gatwick Airport last June was caused by a co-pilot mixing up his left and right hands during take-off, according to a report by the UK’s Air Accidents Investigation Branch (AAIB).
High tariffs are expected to remain a core feature of Donald Trump's trade policy even after new trade agreements are reached, according to several current and former advisers who spoke with Reuters.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment