Key facts
- Norway's $2.3 trillion Government Pension Fund Global opposes the SEC's proposal to rescind climate risk disclosure rules.
Norway's sovereign fund opposes US plan to scrap climate reporting rules
IN SHORT
Norway's Government Pension Fund Global, the world's largest sovereign wealth fund, has stated it does not support the U.S. Securities and Exchange Commission's proposal to scrap climate-related risk disclosure rules, citing their value for investment decisions and risk management.
Key Numbers
$2.3 trillionNorway's sovereign wealth fund assets
53%of fund's investments in the U.S.
Who's Involved
Norges Bank Investment Management (NBIM)
Manager of Norway's sovereign wealth fund, opposing SEC climate disclosure rule rescission
U.S. Securities and Exchange Commission (SEC)
Proposed to scrap company climate reporting regulations
Carine Smith Ihenacho
NBIM Chief Governance and Compliance Officer
AP7
Sweden's government pension fund, also opposing SEC proposal
↳ Why This Matters
The opposition from one of the world's largest institutional investors highlights the ongoing debate over climate risk disclosure and its importance for financial markets, potentially influencing the SEC's final decision and corporate governance standards.