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Time for higher ambitions, says Norway minister on net-zero SWF advice | News
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Norway SWF independent expert climate panel to unveil report Friday
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Less than a year after his controversial appointment, criticism of Nicolai Tangen’s leadership of Norges Bank Investment Management is building
Nearly 10 months into what he has described as his dream job, Nicolai Tangen has started to make his mark. Since becoming chief executive officer of Norges Bank Investment Management (NBIM) in September 2020, the former hedge-fund magnate has reshaped the leadership team. He has set out his key priorities for the management of the Government Pension Fund Global (GPFG) and revised the official strategy placing more emphasis on active management.
Alongside these acts, Tangen has also cultivated a vocal public profile, using his fame and enhanced financial influence to attract young professionals to a career at Norway’s NOK11trn (€1.1trn) oil fund.
By Rachel Fixsen2021-02-05T16:36:00+00:00
The Norwegian government said it has appointed a panel of experts to look into financial climate risk and climate-related investment opportunities in relation to the country’s NOK11trn (€1trn) sovereign wealth fund.
The group is to be led by Martin Skancke, who chairs the PRI board and also sits on the board of the Task Force on Climate-related Financial Disclosure (TCFD) as well as that of Norwegian financial group Storebrand, according to the announcement released yesterday.
Minister of Finance Jan Tore Sanner said: “We need more knowledge about how the transition to a low-emission society could affect the pension fund’s exposure to climate risk and climate-related investment opportunities.”
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