Norges Bank Investment Management (NBIM), investment manager for Norway’s sovereign wealth fund, the World's largest of its kind, has announced the publication of its 2030 Climate Action Plan, outlining its updated approach to managing the financial risks and opportunities arising from climate change, and to support its mandate to have portfolio companies organise their activities to be compatible with global net zero emissions by 2050.
The updated plan focuses on more closely ties NBIM’s investment and climate goals, introduces an increased focus on physical climate risk and nature loss, it expands the fund’s engagement focus to a broader set of portfolio companies and topics, including climate resilience, nature and corporate policy advocacy.