A $1 Trillion Stock Owner Sticks to ESG Path Despite Fed Moves

Norway’s sovereign wealth fund, the world’s biggest owner of stocks, says the market selloff triggered by a more hawkish Federal Reserve won’t change the role ESG plays in its allocations.

“We don’t have any plans to make any major changes there,” Trond Grande, the deputy chief executive of Norges Bank Investment Management, said in an interview on Thursday. “We have a special environmental mandate that has steered our investments and will continue to do so.”