World’s Biggest Wealth Fund Draws Dot-Com Parallel With ESG

For the former hedge-fund boss now running the world’s largest sovereign investment vehicle, there are some obvious parallels between today’s market for sustainable assets, and tech stocks just before the dot-com bubble burst.

Nicolai Tangen, who’s been chief executive of Norway’s $1.3 trillion wealth fund since September, says worrying about bubbles comes with the job. But he also suggests that today’s frothy prices for climate friendly assets might reflect their longer-term potential, as was ultimately the case with tech stocks.