Norges Bank Investment Management

In 1969, Norway's discovered one of the world’s largest offshore oilfields. In 1990, the country established a the Government Pension Fund Global (GPFG), the largest of two sovereign wealth funds, to oversee the revenues from these natural resources. Norges Bank Investment Management (NBIM) is the investment manager of this foreign currency investment portfolio. Since then, the fund has grown into one of the world’s largest and most diversified sovereign wealth funds, owning almost 1.5% of all shares in the world’s listed companies, equivalent to holdings in approximately 9,000 companies worldwide. NBIM also invests in corporate and sovereign fixed income securities, and in infrastructure and real estate projects, owning hundreds of buildings in some of the world’s leading cities. NBIM is committed to promoting long-term value creation and minimise negative effects on the environment and society. It expects companies to address challenges relating to climate change, water management, ocean sustainability and biodiversity, to respect human and children’s rights, and to be aware of how they manage human capital. NBIM also expects companies to have clear guidelines and take effective action to combat corruption.