The world’s largest sovereign wealth fund, Norges Bank Investment Management, has announced a new initiative in which it details the human rights expectations of the companies within its investment portfolio. The move is an important addition to the investment criteria of NBIM, which manages the €791bn Norwegian Government Pension Fund. NBIM invests in over 8000 companies comprising 2% of global work markets. The policy expects companies to adopt practices based on internationally-recognised human rights standards such as the UN Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises and the UN Global Compact. The move is welcomed by UNI Global Union and marks the culmination of a three-year engagement by UNI, Norwegian trade unions and NGOs who contributed to a strategic review of investment policies at NBIM. This pressure culminated with a call for a stronger focus on workers’ rights in fund investment activity.
English: http://www.uniglobalunion.org/news/norway-wealth-managers-raise-importance …
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