KUALA LUMPUR (Dec 15): Norway's US$1.4 trillion (RM5.93 trillion) Government Pension Fund Global (GPFG), the world's largest sovereign wealth fund, is pre-screening companies for sustainability risk before deciding to invest in them. Norges Bank Investment Management chief executive officer Nicolai Tangen said the pre-screening builds on and strengthens its long-standing work with risk-based divestments. "In addition, pre-screening gives us a better overview of the sustainability risk in the companies that we choose to invest in at an earlier stage,” he said. It said this included companies exposed to significant risks related to climate change, water management and corruption. The fund said that since 2012, it had divested from 366 companies that it considered not to have sustainable business models.

Source: The Edge Markets December 15, 2021 16:08 UTC