After ending the practice in 2019, the pension giant is bringing it back with added countermeasures to avoid ‘empty voting.’
The $475 billion Qatar Investment Authority also signed a renewable energy deal in South Africa.
A growing number of portfolio companies held by Norway’s $1.5 trillion sovereign wealth fund are adopting net-zero targets.
Rallying equities helped the pension giant return 16.1% during the year, but it fell 18 basis points shy of its benchmark.
The $1.3 trillion Government Pension Fund Global’s investment portfolio lost 2.1%—$33.6 billion—during the quarter.
The Irish government will also launch a fund focusing on infrastructure, climate, and nature.
The pension giant also found that venture capital and growth equity have underperformed public equities.
The $1.4T Norges Bank Investment Management has increased its climate expectations for more than 9,000 companies in its portfolio.
Following a weak 2022, the Government Pension Fund Global’s market value rose to $1.443 trillion at the end of June.
Despite the loss, the fund’s AUM grew to approximately $595 billion thanks to a 4% share transfer from Saudi Aramco.
GIC also reported 5- and 10-year annualized returns of 3.7% and 5.1%, respectively.
But the institutional investors revamped their approach to the asset class after it failed to protect them when equities tanked in 2022.