Amen to that: Norway's wealth fund boss preaches sustainable finance in church | Reuters
Nicolai Tangen broke new ground as the head of Norway's $1.3 trillion sovereign wealth fund on Tuesday by preaching on the virtues of sustainable capitalism in a church.
"Capitalism is undergoing an incredible transformation, at the fastest pace I have seen in my life," Tangen told around 170 people gathered at the 19th century neo-Gothic Trinity Church in Arendal, southern Norway.
"Shareholders have more influence than ever before on how to run companies, annual general meetings see many more debates especially on executive pay, and climate change is discussed with more and more companies," said the former hedge fund manager, who became the fund's CEO a year ago.
The fund pools the state's oil revenues and invests them abroad. It has an ethical mandate and does not invest in firms deemed unethical, such as tobacco producers.
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