Save for later Print Download Share LinkedIn Twitter Norway’s $1.2 trillion sovereign wealth fund has set a target that requires all companies it invests in to reach net zero emissions by 2050 at the latest, as part of a new climate action plan announced this week. Norges Bank Investment Management (NBIM), which manages the Government Pension Fund Global (GPFG), said it will press companies to reach the goal by setting "credible" interim targets and requiring cuts in both direct and indirect emissions. "The fund has a clear financial interest in the goals of the Paris Agreement being reached. Our analyses show that a delayed climate transition is what constitutes the greatest financial risk for the fund," NBIM said. CEO Nicolai Tangen said the fund's long-term returns would depend on how companies in the portfolio adapted to a zero-emissions society.