Expectations and company dialogue
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).
| Topic | Topic by number of dialogues | Number of companies | ||
|---|---|---|---|---|
| Norway | Nordic region | Norway | Nordic region | |
| Capital structure, financial targets and strategy | 58 | 18 | 48 | 17 |
| Executive remuneration | 5 | 0 | 5 | 0 |
| Operations and market developments | 54 | 20 | 49 | 19 |
| Board composition | 17 | 1 | 15 | 1 |
| Anti-corruption | 2 | 1 | 2 | 1 |
| Climate and environment | 27 | 3 | 27 | 3 |
| Human rights and workers’ rights | 2 | 1 | 2 | 1 |
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.
| Topic | Topic by number of bondholder meetings | Number of companies |
|---|---|---|
| Restructuring | 1 | 1 |
| Amendment of loan agreements | 2 | 2 |
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 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: