Norway’s $1.8T wealth fund challenges Microsoft CEO’s pay and re-election
Norway’s Government Pension Fund Global (GPFG), the world’s largest sovereign wealth fund, has taken a firm stance on corporate ethics and executive pay. With assets of around €1.8 trillion, the fund recently announced it would oppose Microsoft CEO Satya Nadella’s pay package and re-election at the upcoming shareholder meeting. This move follows the GPFG’s long-standing commitment to transparency and ethical investment policies.
The GPFG has built a reputation for openness, publicly disclosing all its investments—a practice rare among sovereign wealth funds. In August 2023, it made headlines by divesting from five Israeli banks and U.S. corporation Caterpillar. The decision came after ethical concerns arose over their involvement in activities tied to human rights violations, particularly in occupied territories and conflict zones.
The GPFG’s decisions highlight its strict ethical framework and willingness to challenge major corporations. By opposing Nadella’s pay and re-election, the fund reinforces its commitment to governance standards. The outcome of the December 5 vote will show how much influence the fund wields over one of its largest investments.
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