Hemma Visavadia
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NBIM divested from 86 companies in 2023 over ESG concerns
World’s largest sovereign wealth fund steps up net-zero pursuit Norges Bank Investment Management (NBIM) has stepped up its climate plans and expects its portfolio companies to follow suit as it continues to divest from more companies carrying high environmental and social risks. Last year the sovereign wealth fund divested from 86 companies that it says pose ESG risks and identified companies with heightened risks across a variety of ESG topics, including potential violations of human and labor rights, insufficient risk management related to corruption and business models highly exposed to thermal coal. In total, NBIM has made 526 divestment decisions…
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Norway’s SWF calls for greater transparency around ESG ratings
Ratings agencies should publicly disclose methodologies and processes, investor says The world’s largest investor, Norges Bank Investment Management (NBIM), has called for improved transparency and governance when it comes to ESG ratings. NBIM acknowledges that although ESG ratings play a critical role in guiding investment decisions, risk monitoring and stewardship activities, a lack of disclosure regarding methodology, data sources and estimation surrounding the rating can be off-putting. ‘We are a user of ESG ratings and have an interest in a well-functioning global ESG data market. As an investor, we need information on companies’ exposure to sustainability risks and opportunities, how…
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Introducing the EU’s law on AI
Lawmaker Dragos Tudorache explains how the regulation – which will also apply to many US firms – will affect companies in Europe Governance Intelligence’s sister publication IR Magazine recently spoke with Dragos Tudorache, a member of the European Parliament,about the new EU Artificial Intelligence (AI) Act, which was finalized last month. Tudorache has been a key player in helping get the regulation across the finish line. Here, he explains what the regulation means and who it affects. Why did you think AI needed to be regulated within the European space? First of all, the impact was there. It is a…