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 2024

As of 31 March 2024

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

TopicTopic by number of dialoguesNumber of companies
 NorwayNordic regionNorwayNordic region
Capital structure, financial targets and strategy58184817
Executive remuneration5050
Operations and market developments54204919
Board composition171151
Anti-corruption2121
Climate and environment273273
Human rights and workers’ rights2121

Total number of dialogue meetings Norway: 83
Total number of dialogue meetings Nordic region: 21

Total number of companies Norway: 57
Total number of companies Nordic region: 20

 

Issuer dialogue

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

TopicTopic by number of bondholder meetingsNumber of companies
Restructuring11
Amendment of loan agreements22

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: 60
Total number of companies: 48

Exclusions

As of 31 March 2024

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:

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

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