Norway’s SWF to Vote on Climate Change Disclosure for BP and Shell
Norges Bank Investment Management (NBIM) trails behind BlackRock and Legal & General Investment Management Ltd. in ownership stake sizes. The Kuwait Investment Office, part of the Kuwait Investment Authority (a long-time BP investor), holds a 1.8% stake in BP. SAFE Investment Company holds a 1.63% stake in BP. NBIM is ranked fourth in common equity ownership of Royal Dutch Shell.
According to an April 10th update from Norway’s Ministry of Finance, the wealth fund plans to dump listed equities that emit “unacceptable levels of greenhouse gasses.”