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Norway's $1 Trillion Wealth Fund Steps Up `No' Votes on CEO Pay

  • NBIM executive says fund will provide more details in February
  • Wants stricter and clearer rules in companies it invests in
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Norway Fund May Divest From Fossil Fuels

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When Norway’s $1 trillion sovereign wealth fund said it wanted companies to curb excessive and opaque top-management pay, it meant business.

Since releasing a position paper in April, the world’s biggest wealth fund has increased the number of votes against management compensation proposals in the companies it invests in, Carine Smith Ihenacho, its global head of ownership strategies, said in an interview in Oslo.