Using The Norwegian Sovereign Wealth Funds Ethical Guidelines As A Model For Investors

Download Using The Norwegian Sovereign Wealth Funds Ethical Guidelines As A Model For Investors full books in PDF, epub, and Kindle. Read online Using The Norwegian Sovereign Wealth Funds Ethical Guidelines As A Model For Investors ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

Using the Norwegian Sovereign Wealth Fund's Ethical Guidelines as a Model for Investors

Author : Anita Margrethe Halvorssen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

DOWNLOAD NOW!

Book Synopsis Using the Norwegian Sovereign Wealth Fund's Ethical Guidelines as a Model for Investors by : Anita Margrethe Halvorssen

Download or read book Using the Norwegian Sovereign Wealth Fund's Ethical Guidelines as a Model for Investors written by Anita Margrethe Halvorssen and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Norwegian Sovereign Wealth Fund, the Government Pension Fund - Global (GPFG), formally established in 1990, is the largest in Europe and second largest in the world, now valued at over $500 billion. It was created to support the long-term management of petroleum revenues and to facilitate government savings necessary to meet the rapid rise in public pension expenditures in the coming decades with an ageing population. Since the GPFG is owned ultimately by the Norwegian citizens and they cannot withdraw from investments as typical shareholders can, a set of Ethics Guidelines were adopted to legitimize the GPFG. Hence, the GPFG avoids investments in companies whose practices constitute an unacceptable risk because of grossly unethical activities. The Ethics Guidelines are based on the view that there is a link between sustainable economic development and sustainable social and environmental development. The idea is that the Fund, being a long-term investor, will benefit from companies respecting fundamental ethical norms based upon internationally recognized standards, such as the UN Compact and the OECD Guidelines for Multinational Enterprises. After explaining the workings of the GPFG and its Ethical Guidelines, this paper will argue that there is growing consensus that sustainable development is a legitimate concern for all investors, be they private or state-owned funds. Hence, using ethics guidelines such as the ones used by the GPFG should not be a reason for promoting special regulation of SWFs. Regulation to deal with geopolitical state interests or national security issues could be addressed in separate legislation against all types of owners, not singling out SWF. The author is a member of the project team of the Sustainable Companies project at the Faculty of Law, University of Oslo.

Investing in Sustainability

Author : Anita Margrethe Halvorssen
Publisher :
ISBN 13 :
Total Pages : 6 pages
Book Rating : 4.:/5 (13 download)

DOWNLOAD NOW!

Book Synopsis Investing in Sustainability by : Anita Margrethe Halvorssen

Download or read book Investing in Sustainability written by Anita Margrethe Halvorssen and published by . This book was released on 2016 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: By participating in global investment markets, the Norwegian Sovereign Wealth Fund (formally the Government Pension Fund - Global (GPFG)), through its Council on Ethics encourages companies in its investment portfolio to align their corporate behavior with the GPFG's Ethics Guidelines, which are based on international sustainability standards. By buying and selling securities as a private investor and subsequently using its shareholder leverage, Norway is influencing the behavior of corporations in an effort to place them on the path to sustainability while still accumulating maximum possible benefits for present and future generations. Being the largest sovereign wealth fund in the world and thus arguably one of the most influential investors in the marketplace, the Norwegian GPFG is at the forefront of responsible investing. This article examines reform proposals that have been suggested by a government appointed body mandated to assess the GPFG's work on responsible investment and suggests additional reforms to enhance its effectiveness as a responsible investor.

Addressing Climate Change Through the Norwegian Sovereign Wealth Fund (SWF) - Using Responsible Investments to Encourage Corporations to Take ESG Issues Into Account in Their Decision-Making

Download Addressing Climate Change Through the Norwegian Sovereign Wealth Fund (SWF) - Using Responsible Investments to Encourage Corporations to Take ESG Issues Into Account in Their Decision-Making PDF Online Free

Author : Anita Margrethe Halvorssen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

DOWNLOAD NOW!

Book Synopsis Addressing Climate Change Through the Norwegian Sovereign Wealth Fund (SWF) - Using Responsible Investments to Encourage Corporations to Take ESG Issues Into Account in Their Decision-Making by : Anita Margrethe Halvorssen

Download or read book Addressing Climate Change Through the Norwegian Sovereign Wealth Fund (SWF) - Using Responsible Investments to Encourage Corporations to Take ESG Issues Into Account in Their Decision-Making written by Anita Margrethe Halvorssen and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Norwegian Government Pension Fund - Global (GPFG), a sovereign wealth fund (SWF), was set up in 1990 to ensure that the country's oil wealth can benefit all generations of Norwegians. This long term goal is to be reached in accordance with sustainable development principles, taking into account economic, social, and environmental concerns. In 2004 the Norwegian Parliament adopted ethical guidelines for the GPFG, specifically prohibiting investments that would put the fund at risk of contributing to systematic human rights violations, serious environmental damage, and gross corruption. The GPFG recently underwent an evaluation process. The Norwegian Government has now decided to focus more on environmental, specifically climate change issues, and has established an environmental investment program, which will focus on companies developing climate friendly energy and is considering a new investment program for development in emerging markets. Taking into account the long term nature of the GPFG, the government has initiated a study to analyze the effects climate change will have on the financial markets. In addition, it has set out to focus on companies' impact on climate change, recognizing that if they emit large amounts of greenhouse gases (GHGs) it will entail a cost in the future, thus bringing down the rate of return for the GPFG. In that context, the Norges Bank Investment Management (NBIM), the entity established by the Norwegian Central Bank (Norges Bank) to manage GPFG, has published a document, NBIM Investor Expectations on Climate Change Management outlining their expectations of companies where the GPFG invests in order to strengthen its active ownership effort. The purpose of this paper is to examine how the Norwegian government is trying to resolve the challenge of balancing financial returns with sustainable development in regulating the GPFG and the possibility of applying this model to other sovereign wealth funds (SWFs) and institutional investors in general. Also, I posit that sustainable development needs to be included in the newly adopted Generally Accepted Principles and Practices (GAPP/ Santiago Principles) for SWFs. Furthermore, I also argue that this effort will encourage the corporations in which the SWFs are investing, especially multinationals, to take environment, social, and governance (ESG) issues into account into their decision-making process. This paper was presented at the first Sustainable Companies workshop in Oslo in January 2010, and is forthcoming in the second of two Sustainable Companies special issues of the International and Comparative Corporate Law Journal.

Public Ownership and Morality

Author : Morten Bøsterud
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (953 download)

DOWNLOAD NOW!

Book Synopsis Public Ownership and Morality by : Morten Bøsterud

Download or read book Public Ownership and Morality written by Morten Bøsterud and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth fund -- Christian ethics -- Investments -- Ownership -- Sanctity of life -- Ecology -- Human rights -- Civil disobedience -- Bioethics -- Ethics of war -- Just war -- Child labour -- Financing conflict -- Reoriented Investment Protocol (RIP).

Sovereign Wealth Funds and Ethical Investment Guidelines

Author : Juergen Braunstein
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (13 download)

DOWNLOAD NOW!

Book Synopsis Sovereign Wealth Funds and Ethical Investment Guidelines by : Juergen Braunstein

Download or read book Sovereign Wealth Funds and Ethical Investment Guidelines written by Juergen Braunstein and published by . This book was released on 2017 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the popular discourse it has often been implied that SWF investments from non-Western economies with low democracy levels are driven by political imperatives. If that is true then how can we explain that SWFs from Western democratic countries adopt ethical investment guidelines, which are often linked to politics? In order to explain that the present article takes a comparative approach by looking at regime types, domestic debates and the sequences in which ethical investment guidelines were adopted across SWFs. Therefore it looks at 10 of the most transparent SWFs. High levels of transparency allows for close scrutiny and monitoring of the SWFs investment practices, specifically by a country's population. However, the rule set governing the interactions between the government and population can vary significantly across countries. Based on the case study findings this article is able to formulate an initial hypothesis: SWFs of countries with parliamentary systems and high levels of political freedom are more likely to adopt ethical investment guidelines.

Sovereign Wealth Funds and International Political Economy

Author : Manda Shemirani
Publisher : Routledge
ISBN 13 : 1317052145
Total Pages : 177 pages
Book Rating : 4.3/5 (17 download)

DOWNLOAD NOW!

Book Synopsis Sovereign Wealth Funds and International Political Economy by : Manda Shemirani

Download or read book Sovereign Wealth Funds and International Political Economy written by Manda Shemirani and published by Routledge. This book was released on 2016-12-05 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the first time, Shemirani provides a systematic methodology for the study of Sovereign Wealth Funds (SWFs) over their life span and emphasizes the need for a paradigm shift in our approach towards the study of state capitalism. Applied in this book to the world's four largest SWFs - Government Pension Fund-Global of Norway, Abu Dhabi Investment Authority of the United Arab Emirates, Temasek of Singapore, and the National Wealth Fund of the Russian Federation, this methodology can also be applied to other funds or form a basis for further analytical studies of SWFs. In addition to its first hand approach, the book addresses concerns about the lack of transparency by offering insights into the functioning and investment strategies of the selected SWFs. Academics and students in international political economy, international finance and international business as well as financiers, business leaders, and policy makers, will find the subject and the approach of this book highly useful.

Sovereign Wealth Funds as a New Instrument of Climate Protection Policy?

Author : Danyel T. Reiche
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (467 download)

DOWNLOAD NOW!

Book Synopsis Sovereign Wealth Funds as a New Instrument of Climate Protection Policy? by : Danyel T. Reiche

Download or read book Sovereign Wealth Funds as a New Instrument of Climate Protection Policy? written by Danyel T. Reiche and published by . This book was released on 2008 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Routledge Handbook of Responsible Investment

Author : Tessa Hebb
Publisher : Routledge
ISBN 13 : 1136249745
Total Pages : 764 pages
Book Rating : 4.1/5 (362 download)

DOWNLOAD NOW!

Book Synopsis The Routledge Handbook of Responsible Investment by : Tessa Hebb

Download or read book The Routledge Handbook of Responsible Investment written by Tessa Hebb and published by Routledge. This book was released on 2015-08-11 with total page 764 pages. Available in PDF, EPUB and Kindle. Book excerpt: The UN-supported Principles for Responsible Investment initiative has led to around a third of the world’s financial assets being managed with a commitment to invest in a way that considers environmental, social or governance (ESG) criteria. The responsible investment trend has increased dramatically since the global financial crisis, yet understanding of this field remains at an early stage. This handbook provides an atlas of current practice in the field of responsible investment. With a large global team of expert contributors, the book explores the impact of responsible investment on key financial actors ranging from mainstream asset managers to religious organizations. Offering students and researchers a comprehensive introduction to current scholarship and international structures in the expanding discipline of responsible investment, this handbook is vital reading across the fields of finance, economics and accounting.

Ethically Investing Governments

Author : Ole Alexander Askeland Jensen
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 (891 download)

DOWNLOAD NOW!

Book Synopsis Ethically Investing Governments by : Ole Alexander Askeland Jensen

Download or read book Ethically Investing Governments written by Ole Alexander Askeland Jensen and published by . This book was released on 2013 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Norway’s Sovereign Wealth Fund

Author : Ole Bjørn Røste
Publisher : Springer Nature
ISBN 13 : 3030741079
Total Pages : 267 pages
Book Rating : 4.0/5 (37 download)

DOWNLOAD NOW!

Book Synopsis Norway’s Sovereign Wealth Fund by : Ole Bjørn Røste

Download or read book Norway’s Sovereign Wealth Fund written by Ole Bjørn Røste and published by Springer Nature. This book was released on 2021-07-19 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book elaborates on how Norway has managed to convert a large fraction of its endowment of hydrocarbons below the seabed of Norwegian waters into financial wealth, invested in the world’s capital markets. Further, it explains how this wealth is managed. Under the current guidelines, only the assessed return on investment may be allotted to public budgets. This ensures that the wealth will benefit both current and future generations. The capital is gathered in the Sovereign Wealth Fund – or State Pension Fund Global (SPF-G) –, which is intended to maximize capital value without exceeding acceptable risks. The book offers new insights into the history and management of the fund, examines its successes,and discusses future challenges. Given its scope, it appeals to scholars of economics, finance and political science, and to anyone interested in the sustainable investment of natural resource-based revenues.

Sovereign Wealth Funds

Author : Gordon L. Clark
Publisher : Princeton University Press
ISBN 13 : 0691142297
Total Pages : 236 pages
Book Rating : 4.6/5 (911 download)

DOWNLOAD NOW!

Book Synopsis Sovereign Wealth Funds by : Gordon L. Clark

Download or read book Sovereign Wealth Funds written by Gordon L. Clark and published by Princeton University Press. This book was released on 2013-07-21 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.

Research Handbook on Sovereign Wealth Funds and International Investment Law

Author : Fabio Bassan
Publisher : Edward Elgar Publishing
ISBN 13 : 1781955204
Total Pages : 453 pages
Book Rating : 4.7/5 (819 download)

DOWNLOAD NOW!

Book Synopsis Research Handbook on Sovereign Wealth Funds and International Investment Law by : Fabio Bassan

Download or read book Research Handbook on Sovereign Wealth Funds and International Investment Law written by Fabio Bassan and published by Edward Elgar Publishing. This book was released on 2015-06-29 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research on the role of sovereign investments in a time of crisis is still unsatisfactory. This Research Handbook illustrates the state of the art of the legal investigation on sovereign investments, filling necessary gaps in previous research. Current

Sovereign Wealth Funds

Author : Gordon L. Clark
Publisher : Princeton University Press
ISBN 13 : 140084651X
Total Pages : 237 pages
Book Rating : 4.4/5 (8 download)

DOWNLOAD NOW!

Book Synopsis Sovereign Wealth Funds by : Gordon L. Clark

Download or read book Sovereign Wealth Funds written by Gordon L. Clark and published by Princeton University Press. This book was released on 2013-07-21 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.

ESG and Responsible Institutional Investing Around the World: A Critical Review

Author : Pedro Matos
Publisher : CFA Institute Research Foundation
ISBN 13 : 1944960988
Total Pages : 80 pages
Book Rating : 4.9/5 (449 download)

DOWNLOAD NOW!

Book Synopsis ESG and Responsible Institutional Investing Around the World: A Critical Review by : Pedro Matos

Download or read book ESG and Responsible Institutional Investing Around the World: A Critical Review written by Pedro Matos and published by CFA Institute Research Foundation. This book was released on 2020-05-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.

The Palgrave Handbook of Sovereign Wealth Funds

Author : Harold Kent Baker
Publisher : Springer Nature
ISBN 13 : 3031508211
Total Pages : 677 pages
Book Rating : 4.0/5 (315 download)

DOWNLOAD NOW!

Book Synopsis The Palgrave Handbook of Sovereign Wealth Funds by : Harold Kent Baker

Download or read book The Palgrave Handbook of Sovereign Wealth Funds written by Harold Kent Baker and published by Springer Nature. This book was released on 2024 with total page 677 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Palgrave Handbook of Sovereign Wealth Funds provides a comprehensive, detailed analysis of these funds from a multidimensional perspective consisting of 33 chapters divided into seven sections. Section I provides background material about SWFs, providing a foundation for the remainder of the handbook. Section II examines various controversies, governance, and accountability topics involving SWFs. Section III discusses the political, legal, and tax aspects of SWFs. Section IV reviews numerous topics involving SWF management. Section V deals with SWFs' policies, preferences, and performance. Section VI provides descriptive analyses of SWFs based on country or region. It also offers a comparison of SWF similarities and differences across countries. Section VII concludes by examining special issues and the future of SWFs. This handbook spans the gamut from theoretical to practical while offering the right balance of detailed and user-friendly coverage. Discussion of relevant research permeates the handbook. Although other books are available on SWFs, few are as comprehensive or provide a multidimensional perspective from academics and practitioners. This handbook fills a gap by showing how SWFs are a growing and dynamic force in international finance.

Corporate Governance and Investment Management

Author : Roger M. Barker
Publisher : Edward Elgar Publishing
ISBN 13 : 178471352X
Total Pages : 338 pages
Book Rating : 4.7/5 (847 download)

DOWNLOAD NOW!

Book Synopsis Corporate Governance and Investment Management by : Roger M. Barker

Download or read book Corporate Governance and Investment Management written by Roger M. Barker and published by Edward Elgar Publishing. This book was released on 2017-12-29 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shareholder engagement with publicly listed companies is often seen as a key means to monitor corporate malpractices. In this book, the authors examine the corporate governance roles of key institutional investors in UK corporate equity, including pension funds, insurance companies, collective investment funds, hedge and private equity funds and sovereign wealth funds. They argue that institutions’ corporate governance roles are an instrument ultimately shaped by private interests and market forces, as well as law and regulatory obligations, and that policy-makers should not readily make assumptions regarding their effectiveness, or their alignment with public interest or social good.

Sovereign Wealth Funds and Long-term Investing

Author : Patrick Bolton
Publisher : Columbia University Press
ISBN 13 : 0231158637
Total Pages : 254 pages
Book Rating : 4.2/5 (311 download)

DOWNLOAD NOW!

Book Synopsis Sovereign Wealth Funds and Long-term Investing by : Patrick Bolton

Download or read book Sovereign Wealth Funds and Long-term Investing written by Patrick Bolton and published by Columbia University Press. This book was released on 2012 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth funds (SWFs) are state-owned investment funds with combined asset holdings that are fast approaching four trillion dollars. Recently emerging as a major force in global financial markets, SWFs have other distinctive features besides their state-owned status: they are mainly located in developing countries and are intimately tied to energy and commodities exports, and they carry virtually no liabilities and have little redemption risk, which allows them to take a longer-term investment outlook than most other institutional investors. Edited by a Nobel laureate, a respected academic at the Columbia Business School, and a longtime international banker and asset manager, this volume examines the specificities of SWFs in greater detail and discusses the implications of their growing presence for the world economy. Based on essays delivered in 2011 at a major conference on SWFs held at Columbia University, this volume discusses the objectives and performance of SWFs, as well as their benchmarks and governance. What are the opportunities for SWFs as long-term investments? How do they fulfill their socially responsible mission? And what role can SWFs play in fostering sustainable development and greater global financial stability? These are some of the crucial questions addressed in this one-of-a-kind volume.