Norway's $1 trillion gorilla shouldn't set your salary
Bloomberg Gadfly columnist, Mark Gilbert, asks whether the investment arm of one sovereign nation should be using its financial muscle to influence salary policies in other sovereign nations, setting principles which then guide how it votes in particular examples.
(Bloomberg Gadfly) "Where does an 800-pound gorilla sit?" goes the riddle. "Wherever it likes," is the answer. Norway's $1 trillion (€839 billion) wealth fund risks throwing its weight around in ways that exceed its authority, interfering in the sovereignty of other nations.
This year, the fund has voted against remuneration proposals at more of the companies it holds stakes in, its global head of ownership strategies Carine Smith Ihenacho told my Bloomberg News colleague Mikael Holter in an interview.
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