US Corporate Greed Has Gone Too Far: Norway's Tangen
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- čas přidán 17. 01. 2023
- Norwegian Wealth Fund CEO Nicolai Tangen discusses the backlash to ESG investing, saying, "it's just not politics, it's common sense," and points to the main issues the fund has with corporate boards. He speaks with Lisa Abramowitz on "Bloomberg Markets: European Open" on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.
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Keep Europe for Europeans
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Government reckless overspending has gone too far.
Fight against climate. 😂😂😂
Talk is cheap, if Norway's Tangen should act more like an activist investor and create an institution to participate in the supervision of the companies. As the largest and oldest sovereign fund with more than $1.2 trillion (almost 2% of global stock market value), the fund could lead the rest of the sovereigns. ETFs and Sovereign Funds enabled executive class runaway compensation as they are absentee owners and most do not vote their shares.
Norway’s sovereign wealth fund has taken an active stance the last years against the massive bonuses and to an extent also the salaries of the CEOs and other leaders in the companies they invest in. They have regularly voted against the majority shareholders despite knowing they will lose the vote to set an example and send clear signals. So Tangen isn’t all talk, they actually do what they preach. Hopefully more of the sovereign wealth funds and other large stakeholders will follow suit, as there is no evidence the insane CEO payouts actually positively impact the revenue of companies.
@@Gran_Torino When Blackrock's CEO issued his letter to CEOs in January 2020 to argue that each company must make responding to climate change a major factor in how it operates, it had an immediate and visible impact. Since Norway sovereign fund manages a comparable amount of assets to Blackrock, one would expect a similar impact. The absence of impact is either because Tangen does not know to assert his influence or that this is a media stunt. Tangen should start writing an annual letter to CEOs to fulfill his fiduciary duties.
what gibberish,what bare you trying to say or sell,speak clearly...
Greenwashing and virtue-signalling
@@MG2.5.4.It’s called “having an opinion!” Just because someone has a different opinion to you it doesn’t make them ignorant and narrow minded! It’s your comment that makes you ignorant as you seem unable to accept that others may not agree with your perspective.
No, they actually do something. Look it up.