Expectations and company dialogue

Our aim is to be a constructive and responsible owner. We ask challenging questions about important issues, but are also available to the portfolio companies.

Folketrygdfondet's expectations

Meetings with companies are a key aspect of our management and active ownership activities.

We define “dialogue” as instances where we request an update, feedback, clarification or response on a specific matter or topic we consider very important to the company in question. See also 

The table below illustrates Folketrygdfondet’s dialogue with different companies.

Dialogues in 2023

As of 30 June 2023

Companies listed in Norway and the other Nordic countries (Sweden, Denmark and Finland).

Topic Topic by number of dialogues Number of companies
  Norway Nordic region Norway Nordic region
Capital structure, financial targets and strategy 66 5 38 5
Executive remuneration 18 1 16 1
Operations and market developments 63 10 37 10
Board composition 21 1 19 1
Anti-corruption 3 0 3 0
Climate and environment 40 2 29 2
Human rights and workers’ rights 7 0 7 0

Total number of dialogue meetings Norway: 95
Total number of dialogue meetings Nordic region: 11

Total number of companies Norway: 48
Total number of companies Nordic region: 11


Issuer dialogue

The table below shows the number of bondholder meetings Folketrygdfondet has participated in, by topic.

Topic Topic by number of bondholder meetings Number of companies
Restructuring 1 1
Amendment of loan agreements 6 4

In addition to formal bondholder meetings, Folketrygdfondet regularly engages in dialogue with issuers, including through company presentations, roadshows, and one-on-one meetings.

Total number of issuer meetings: 87
Total number of companies: 76


As of 30 June 2023

Folketrygdfondet may not invest in companies that have been excluded pursuant to the Guidelines for observation and exclusion of companies from the Government Pension Fund Global.
The following companies are excluded from the investment universe of the Government Pension Fund Norway:

Swedish Match AB (19 January 2010)

Scandinavian Tobacco Group A/S (7. september 2022)