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Norwegian Government Pension Fund Norway (Norwegian Ministry of Finance and Folketrygdfondet)

PRI reporting framework 2020

You are in Direct - Listed Equity Incorporation » Outputs and outcomes

Outputs and outcomes

LEI 12. How ESG incorporation has influenced portfolio composition

12.1. Indicate how your ESG incorporation strategies have influenced the composition of your portfolio(s) or investment universe.

Select which of these effects followed your ESG integration.

12.2. Additional information.[Optional]

LEI 13. Examples of ESG issues that affected your investment view / performance

13.1. Provide examples of ESG factors that affected your investment view and/or performance during the reporting year.

ESG factor and explanation

Folketrygdfondet's strategic plan identifies investing in quality companies and avoiding over-optimism as key sources of excess returns. In our experience, corporate governance often provides an indicator of a company's ability to generate long-term returns, all else equal.

ESG incorporation strategy applied Integration

Impact on investment decision or performance

Folketrygdfondet has achieved excess returns by underweighting companies with weak corporate governance accompanied by a challenging market situation.

13.2. Additional information.[Optional]