Bloomberg Professional Services reposted this
Chief Executive Officer at Norges Bank Investment Management
Bloomberg started to publish how we are going to vote, including our explanation. Big step up in transparency and impact! Well done stewardship team!
Does Bloomberg cover other major investors voting too?
I'm sorry you got so much flak on social media from the Musk fanboys over the Tesla vote. They seem to think that you decide how the fund votes, which is ridiculous. Oh, and this is not saying the fund voted wrong - in fact - I think you should sell down on Tesla, it's way overvalued especially now that the 20% CEO diluted to pay for his stupid acquisition of X.
This is great news! 🙌
My mission is to make proxy voting more accessible and transparent, which is why I'm thrilled that Norges Bank is joining CalPERS, CalSTRS, Florida SBA, Ontario Teachers, and Calvert in pre-disclosing their proxy votes before meetings on the Bloomberg terminal. Check it out at {ni preproxy <Go>}. It's been amazing working with the Norges team!
Transparency is KEY for any investment relationship - Thanks for promoting new standards in business & investing
I need to digest the significance of this news a bit more. Bradley August has been on this mission for at least a dozen years, probably more. Back when Andy Eggers had Proxy Democracy up and running, Brad was contacting funds, asking them to announce their votes in advance. With Norges online, Bloomberg will now be able to generate automatic feeds of votes announced before AGMs by something like $2.5T (my rough guess) Norges Bank was already driving substantial votes https://lnkd.in/g2bkxmkn Hopefully, the power of these disclosures will grow exponentially and how a fund votes will be as crucial as its portfolio (since most large funds are practically universal owners). And to have Nicolai Tangen call out this development is a dream come true. https://lnkd.in/gfpx9iKm Congratulations Bradley August and congratulations @Nicolai Tangen. #corpgov #ESG #proxyvotes
Excellent.
And for those who don't have Bloomberg access, they can also find the information on NBIM's website: https://www.nbim.no/en/responsible-investment/voting/our-voting-records/
This is a great!
Chief Executive Officer at Norges Bank Investment Management
2moAmy Wilson, Nikolai Schjold, Vaishali Lara Kathuria, Vegard Torsnes, Ola Peter Krohn Gjessing, Deena Elmeged, Tobias Hyldmo, Emily Nathan, Carine Smith Ihenacho, Wilhelm H Mohn