Norges Bank Investment Management (NBIM) today revealed the identities of the external members of its new Climate Advisory Board, in a line-up that includes an independent director of US oil company ConocoPhillips.
NBIM, which manages Norway’s sovereign wealth fund, the Government Pension Fund Global (GPFG), said in an announcement that it has established the board to support the implementation of its 2025 Climate Action Plan, as well as to advise on further development of the SWF’s approach to managing climate-related financial risks and opportunities.
NBIM said: “We have appointed Professor Jody Freeman, Jennifer Morris, Huw van Steenis and Bjørn Otto Sverdrup as external members to the board.”
Freeman is professor of law at Harvard Law School and an independent director on the board of directors of ConocoPhillips, according to NBIM.
Morris is chief executive officer at US-headquartered international environmental organisation The Nature Conservancy, and van Steenis is currently vice-chair at consultancy Oliver Wyman, the Norwegian central bank unit said. Steenis was previously chair of the Sustainable Finance Committee at Swiss bank UBS.
Sverdrup is chair of the executive committee for the Oil and Gas Climate Initiative, NBIM said.
Carine Smith Ihenacho, NBIM’s chief governance and compliance officer, said the “outstanding experts” would “provide a wide breadth of relevant climate expertise spanning academia, civil society, sustainable finance and business”.
“We are confident they will help us maintain leadership in managing climate-related risks as an owner of companies through the climate transition,” she said.
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