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The lawyers want a judge to approve $229 million in fees, or $10,690 an hour, according to a Sept. 8 filing in Delaware's Court of Chancery. The legal fee and the settlement must be approved by a Delaware judge at a hearing scheduled for October. The Telsa directors have not objected to the fee request but are expected to do so, according to a court filing by the plaintiffs' lawyers. In 2012, the Delaware Supreme Court affirmed a $304 million fee in a Southern Copper shareholder lawsuit involving $2 billion of damages. The Delaware Court of Chancery judge overseeing the Tesla case, Kathaleen McCormick, has scheduled a hearing on Oct. 13 to approve the settlement and the fee.

Persons: Tesla's, James Murdoch, Larry Ellison, Bleichmar Fonti, McCarter, Ronald King, Clark Hill, George Bauer, David Paige, Paige, Kathaleen McCormick, Tom Hals, Amy Stevens, Marguerita Choy Organizations: REUTERS, Partners, Bleichmar, Shukurov, Advisors, Southern, Thomson Locations: Oslo, Norway, Victoria, WILMINGTON , Delaware, Delaware's Court, Delaware, New York, Wilmington , Delaware, Lansing , Michigan

Norway could become the first nation to make deep sea mining happen on a commercial scale if the country's parliament approves a plan to open ocean an area larger than the United Kingdom to the new industry. The mining could provide a source for such metals as copper and rare earth elements for the transition away from fossil fuels. He did not say whether SV would make support for the government's budget conditional on the issue. Still, Haltbrekken said deep sea mining was "high on our agenda" and "an important issue for us". In 2021, SV blocked the government's plans to conduct oil and gas exploration licensing round in frontier areas.

Persons: Lars Haltbrekken, Haltbrekken, SV, Victoria Klesty, Nerijus, Gwladys Fouche, Timothy Gardner Organizations: Reuters, NOAA, of Ocean Exploration, REUTERS, Rights, Labour, Centre Party, Socialist Left, SV, Conservative, Progress Party, Thomson Locations: Rights OSLO, Norway, United Kingdom

☆ Timeline for supply limits on Novo Nordisk weight-loss drug unclear, US FDA says
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsSept 12 (Reuters) - The U.S. Food and Drug Administration said on Tuesday it was not clear when supply of lower doses of Novo Nordisk's (NOVOb.CO) Wegovy would normalize, backtracking from its earlier estimates to resume supply of the popular weight-loss drug this month. The FDA, in its drug shortage list, listed the 0.25 mg, 0.5 mg and 1 mg doses of the drug with limited availability and that the duration of shortage was "to be decided", while the larger doses of 1.7 mg and 2.4 mg were still available. The drug was approved for chronic weight management in people with obesity in 2021. Reporting by Leroy Leo in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Victoria Klesty, Lars Fruergaard Jorgense, Leroy Leo, Shinjini Organizations: REUTERS, U.S . Food, Drug Administration, FDA, Novo Nordisk, Thomson Locations: Oslo, Norway, August31, Victoria, U.S, Danish, Bengaluru

☆ Analysis: Wegovy launch in UK may underline Novo's need to get ahead of Lilly
▼ + stars: | 2023-09-10 | by ( Maggie Fick | ) www.reuters.com time to read: +5 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. Studies have demonstrated more weight loss than with Wegovy. Novo's type 2 diabetes drug Ozempic has been on the market in Britain since 2019. A Lilly spokesperson declined to comment on Wegovy's launch or when exactly it would launch Mounjaro for diabetes treatment. Studies have shown that, used alongside exercise and lifestyle changes, Wegovy led to 15% weight loss over 68 weeks, while Mounjaro led to more than 22% over 72 weeks.

Persons: Victoria Klesty, Eli Lilly's, Wegovy, Lars Fruergaard Jorgensen, Novo, Lilly, Mounjaro, Ozempic, Eli Lilly, Maggie Fick, Alexander Smith, Catherine Evans Organizations: REUTERS, Wegovy, Economic Co, Development, Reuters, National Health Service, stoke, NHS, Britain's Department of Health, Social Care, Diabetes, UBS, Novo, Thomson Locations: Oslo, Norway, August31, Victoria, Britain, British, Danish, United States, Denmark, Germany, Europe, England

☆ The obesity drug boom is just getting started: podcast
▼ + stars: | 2023-09-05 | by ( Aimee Donnellan | ) www.reuters.com time to read: +1 min

A 0.25 mg injection pen of Novo Nordisk’s weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. REUTERS/Victoria Klesty/Illustration Acquire Licensing RightsLONDON, Sept 5 (Reuters Breakingviews) - Over 1 bln people are obese, the WHO reckons. Denmark’s Novo Nordisk is ahead of the pharma pack with its Wegovy weight-loss drug. Listen to the podcastFollow @aimeedonnellan on XSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Victoria Klesty, Lars Jorgensen, Oliver Taslic Organizations: REUTERS, Reuters, WHO, Denmark’s, Denmark’s Novo Nordisk, pharma, Thomson Locations: Oslo, Norway, Victoria, Denmark’s Novo

☆ Novo Nordisk launches weight-loss drug Wegovy in Britain
▼ + stars: | 2023-09-04 | by ( Maggie Fick | ) www.reuters.com time to read: +4 min

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. The Danish drugmaker said in a statement that Wegovy would be available in the United Kingdom "through a controlled and limited launch". Surging demand for the drug, and Novo's highly effective diabetes drug Ozempic, have sent the company's shares and earnings to record highs. Novo did not say how much supply it would make available in Britain or how much Wegovy would cost in either of the two treatment scenarios it mentioned. It was not immediately clear what the implications would be of the drug being available through private healthcare professionals.

Persons: Victoria Klesty, United Kingdom Novo, Danish drugmaker, LVMH, Novo, Maggie Fick, Susan Fenton, Emelia Organizations: REUTERS, Novo, Novo Nordisk, Wegovy, Reuters, National Health, NICE, NHS, Thomson Locations: Oslo, Norway, Victoria, United Kingdom, Britain, Europe, Danish, United States, Denmark, Germany, England, Wegovy

☆ In AI push, Telenor hires Google Cloud's Amol Phadke as CTO
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSummaryCompanies Telenor recruits Chief Tech Officer from Google CloudAmol Phadke to implement AI strategyTelecom sector's AI adoption is going slowly, Phadke saysAlso appoints Petter-Boerre Furberg as head of Asia unitOSLO, Aug 22 (Reuters) - Norwegian telecoms firm Telenor (TEL.OL) has recruited Google Cloud's Amol Phadke as its new Chief Technology Officer (CTO) to strengthen its AI activities, Telenor said on Tuesday. Phadke most recently headed Google Cloud's (GOOGL.O) telecom business and has previously worked for British Telecom, Alcatel-Lucent and Accenture's network services unit. He said he wanted Telenor "to use AI in all of our operations to make operations more efficient, develop new products, increase energy efficiency." Phadke said Telenor would use AI will to make business operations more efficient, for example to predict traffic demand and allocate more bandwidth to areas with more users, and to improve interactions with customers. "We do not believe that AI will directly result in job reductions," Phadke said, adding he envisaged using AI to augment and enhance, not substitute, humans in processes.

Persons: Dado Ruvic, Phadke, Petter, Boerre Furberg, Sigve Brekke, Brekke, Arentz, Rostrup, Furberg, Victoria Klesty, David Evans Organizations: Telenor, REUTERS, Google, Telecom, Technology, British Telecom, Alcatel, Lucent, Reuters, Telenor Nordics, Thomson Locations: Asia, OSLO, Norwegian, Myanmar, Bangladesh, Thailand, Malaysia, Southeast Asia

☆ Tesla says two ex-employees behind May data breach
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

A view shows the Tesla logo on the hood of a car in Oslo, Norway November 10, 2022. REUTERS/Victoria Klesty/file photo Acquire Licensing RightsCompanies Tesla Inc FollowAug 21 (Reuters) - Two former Tesla (TSLA.O) employees were behind a data breach that compromised personal information of more than 75,000 people including staff, the electric carmaker said in a legal disclosure. Data exposed by the breach was leaked to German media outlet Handelsblatt, Steven Elentukh, Tesla's data privacy officer, said in a submission to Maine's attorney general office. At the time, Tesla identified the employees who leaked the data, filed lawsuits against them and seized their devices, the company said. This Tesla breach comes after Reuters reported in April that groups of Tesla employees privately shared via internal messaging systems customer information, including videos and images recorded through car cameras.

Persons: Victoria Klesty, Tesla, Steven Elentukh, Handelsblatt, Zaheer Kachwala, Maju Samuel Organizations: REUTERS, Companies, Reuters, Thomson Locations: Oslo, Norway, Victoria, United States, Bengaluru

☆ Ukraine alone decides when conditions right for peace talks- NATO's Stoltenberg
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

ARENDAL, Norway, Aug 17 (Reuters) - It is up to Ukraine to decide when the conditions are right to join any negotiations following the Russian invasion, NATO chief Jens Stoltenberg said on Thursday, emphasising the alliance's unchanged stance after comments this week by a senior colleague. "It is the Ukrainians, and only the Ukrainians, who can decide when there are conditions in place for negotiations, and who can decide at the negotiating table what is an acceptable solution," Stoltenberg said. Speaking at a conference in the Norwegian town of Arendal, he added that NATO's role was to support Ukraine. "His (Jenssen's) message, and which is my main message, and which is NATO's main message, is, firstly, that NATO's policy is unchanged - we support Ukraine," Stoltenberg said. Reporting by Gwladys Fouche in Arendal and Victoria Klesty in Oslo; editing by Terje Solsvik and Keith WeirOur Standards: The Thomson Reuters Trust Principles.

Persons: Jens Stoltenberg, Stoltenberg, Stoltenberg's, Stian Jenssen, Jenssen, Volodymyr Zelenskiy, Gwladys, Terje Solsvik, Keith Weir Organizations: NATO, Kyiv, Victoria Klesty, Thomson Locations: ARENDAL, Norway, Ukraine, Norwegian, Arendal, Russia, Victoria, Oslo

Norway wealth fund CEO Nicolai Tangen poses for a picture before a news conference held at the Norwegian central bank in Oslo, Norway January 31, 2023. The fund invests in 9,200 firms worldwide, for which it sets expectations on a range of issues, from children's rights to climate change. When talking to firms about responsible AI, the fund will concentrate particularly on the healthcare, finance and large tech sectors, because their use of the technology will have an especially strong impact on consumers. "They have to take responsibility for their development and use of AI," said Smith Ihenacho, adding the fund had already discussed AI with the large U.S. tech companies in its portfolio. In July, U.S. AI companies made voluntary commitments to the White House to implement measures such as watermarking AI-generated content to make the technology safer.

Persons: Nicolai Tangen, Will, Tangen, Carine Smith Ihenacho, Smith, Smith Ihenacho, Gwladys Fouche, Terje Solsvik, Jan Harvey Organizations: REUTERS, financials, Reuters, Companies, Microsoft, Nvidia, Tech, Thomson Locations: Norway, Norwegian, Oslo, Victoria, financials OSLO

But the lure for OCI and others of making ammonia with a smaller carbon footprint is a business with potential beyond the farm. is the question, and I think it's a good question," OCI CEO Ahmed El-Hoshy told Reuters, when asked why his company is betting on producing so-called "blue ammonia." But even with U.S. support, blue ammonia economics hinge on further government incentives. If utility premiums don't emerge, OCI plans to use its Texas blue ammonia to make fertilizer in The Netherlands, where the company has under-utilized its plants due to high natural gas prices. OCI's Texas plant, to start production in 2025, will produce 1.1 million metric tons annually.

Persons: Ahmed El, Hoshy, Alexander Derricott, TD Cowen, JERA, Yara, Stephan Werner, Werner, Katrine Petersen, Petersen, Chris Bohn, Oystein Kalleklev, Harald Fotland, Fotland, Rod Nickel, Yuka Obayashi, Anna Driver Organizations: Reuters, OCI, REUTERS, Group, CF Industries, Gulf, CF, Yara, Mitsui, Mitsubishi, Nutrien, Investors, Germany's DWS, International Maritime Organization, Flex LNG, Avance, Victoria Klesty, Thomson Locations: Beaumont , Texas, U.S, Texas, Japan, South Korea, Netherlands, United States, El, OCI's Texas, Gulf Coast, Winnipeg , Manitoba, Oslo, Tokyo, Bengaluru

☆ Norwegian Air to buy regional peer Wideroe for $106 mln
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

OSLO, July 6 (Reuters) - Norwegian Air (NAS.OL) has agreed to buy domestic peer Wideroe for 1.13 billion crowns ($106 million) as the reborn airline looks to strengthen its position in its home region. "The transaction is expected to provide significant benefits for travellers, employees and shareholders, and to strengthen the combined Norwegian and Wideroe as a key part of critical domestic infrastructure," Norwegian Air said in a statement. An important part of the regional infrastructure, Wideroe owns 40 Bombardier Dash 8 aircraft, and three Embraer E190-E2 jets, with seat numbers in each plane ranging from 39 to 110. The deal comes only two years after Norwegian Air emerged from bankruptcy protection with a smaller fleet and its debt almost wiped out, having raised cash. Norwegian Air said the two carriers had very limited overlap on routes, and it saw potential annual synergies from the acquisition of 200-300 million crowns ($18.8-28.2 million).

Persons: Privately, Wideroe, Louise Breusch Rasmussen, Anna Ringstrom, Mark Potter Organizations: Bombardier Dash, Embraer, Norwegian Air, Boeing, Victoria, Thomson Locations: OSLO, Norwegian, Scandinavia's

[1/3] A memorial to Lord Kitchener, who died when the HMS Hampshire hit a German mine on June 5, 1916, is seen at Marwick Head on the Orkney Islands, Scotland May 3, 2014. REUTERS/Nigel Roddis/File PhotoLONDON, July 3 (Reuters) - Britain's Orkney Islands, an archipelago about 10 miles off the north coast of Scotland, is considering "alternative forms of governance" which could include becoming part of Norway, its council leader said on Monday. Orkney's historic Nordic connections give it options, Stockan believes. A row over funding for new ferries between the islands and Scotland has brought Orkney's situation to a head. Stockan wasn't clear about how Orkney's return to Norway, 250 miles across the North Sea, would work.

Persons: Lord Kitchener, Nigel Roddis, James Stockan, Stockan, Orcadians, Christian I, King of, Scotland's James III, Victoria Klesty, David Holmes Organizations: HMS Hampshire, REUTERS, Scottish, BBC Radio, Channel, England, Thomson Locations: Orkney Islands, Scotland, Orkney, Norway, Faroe Islands, Denmark, British, King of Denmark, Sweden, United Kingdom, Oslo

☆ Norway's DNB beats Q1 profit forecast as rates rise
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

OSLO, April 27 (Reuters) - DNB (DNB.OL), Norway's largest bank, reported a bigger-than-expected rise in first-quarter profit on Thursday, following a trend among Nordic banks benefiting from recent rate hikes. Net profit rose to 10.5 billion Norwegian crowns ($989.43 million) in the January-March quarter, from 7.6 billion crowns a year earlier, while analysts on average had expected 8.9 billion crowns, according to a poll compiled by the bank. Loans to customers increased 0.6% in the quarter while net interest income surged 39.8% to 14.6 billion crowns, just above analysts' average forecast of 14.5 billion, thanks to both increased volumes and interest rates. DNB said it had net reversals of impairment of financial instruments of 79 million crowns in the quarter compared with net reversals of 589 million in the year-earlier period. The net reversals in the oil, gas and offshore industry segment was 515 million in the quarter.

☆ Norway private-sector workers go on strike
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +1 min

OSLO, April 16 (Reuters) - Almost 25,000 private-sector workers in Norway will go on strike with immediate effect after negotiations with employers broke down, and the conflict is set to escalate next week, two major labour unions said on Sunday. Another 16,000 workers are due to strike from April 21 unless an agreement is found, and the conflict could ultimately grow to around 200,000 workers, unions have said, but is not expected to affect Norway's production of oil and natural gas. The Norwegian Confederation of Trade Unions (LO) was negotiating on behalf of 185,000 members, while the smaller Confederation of Vocational Unions (YS) represented a further 16,000 in the talks. The Confederation of Norwegian Enterprise (NHO), representing employers, argued wages should not be allowed to rise to an extent that would risk inflation spinning out of control. Norwegian headline inflation is expected to ease to 4.9% in 2023 from 5.8% last year, according to a key report from a commission with members from labour unions, employers' federations and Statistics Norway.

EURNOK and inflationGoldman Sachs and UBS said that the rising cost of borrowing would likely support the Norwegian crown. But those daily sales are well down from the 4.3 billion crowns per day the central bank sold in October. "Any budget surplus that was generated from the commodity exports was basically being neutralized by the Norges bank," said Simon Harvey, head of FX analysis at Monex. Much of the crown's fate could also depend on what the U.S. central bank does. If the Fed stops hiking rates, this would likely boost global equities, which have a strong positive correlation to the Norwegian crown.

SummarySummary Companies Plant to supply 1.2-1.4 mln tonnes of ammonia per yearYara attracted by low US gas prices, carbon capture costProduction start up set for 2027-28OSLO, March 31 (Reuters) - Norwegian fertiliser maker Yara (YAR.OL) and Canadian pipeline company Enbridge (ENB.TO) plan to invest up to $2.9 billion to build a low-carbon blue ammonia production plant in Texas, they said on Friday. Blue ammonia, rather than green ammonia derived from renewable energy, refers to ammonia produced from natural gas, with the carbon dioxide (CO2) byproduct captured and stored. The plant will supply 1.2 million to 1.4 million tonnes of low-carbon ammonia per year. High gas prices in Europe have made the case to build in the U.S. stronger, Ankarstrand said. Many similar facilities are in development and demand for low-carbon ammonia looks strong, said Vince Paradis, Enbridge's vice president of business development.

☆ Norway wealth fund to consider investing in unlisted equities
▼ + stars: | 2023-03-31 | by ( Victoria Klesty | ) www.reuters.com time to read: +2 min

OSLO, March 31 (Reuters) - Norway's $1.3 trillion wealth fund, one of the world's largest investors, should assess whether to begin investing in unlisted equities, the finance ministry said on Friday, which would be a brand new asset class for the fund. Managed by a unit of the central bank, it is invested in more than 9,200 companies globally and owns on average 1.5% of all the world's listed stocks. It could be presented to parliament next year, Finance Minister Trygve Slagsvold Vedum told Reuters. Asked whether this could increase the fund's exposure to risk, Vedum said that would be one of the questions to be examined. But when we open for this now, it's just because we want to have a thorough evaluation of that," Vedum told Reuters.

[1/5] Campaigners who have been protesting in Oslo for over a week against the wind turbines at Fosen, end the campaign with a demonstration in front of the Royal Castle in Oslo, Norway, March 3, 2023. Demonstrators had urged government action after Norway's supreme court ruled in 2021 that 151 turbines erected at Fosen in central Norway violated Sami rights under international conventions, but remained in operation 17 months later. Saying that a transition to green energy should not come at the expense of Indigenous rights, protesters blocked access to several ministries, putting the centre-left minority government in crisis mode. "We have made the government take responsibility for the ongoing violations of human rights and apologise," Sami artist and campaigner Ella Marie Haetta Isaksen told Reuters. "This case is bigger than just Fosen," Christian Rynning-Toennesen, the head of utility Statkraft and the operator of one of the affected wind farms, told reporters on Thursday.

☆ ECB confronts a cold reality: companies are cashing in on inflation
▼ + stars: | 2023-03-02 | by ( Francesco Canepa | ) www.reuters.com time to read: +9 min

"It's clear that profit expansion has played a larger role in the European inflation story in the last six months or so," said Paul Donovan, chief economist at UBS Global Wealth Management. "The ECB has failed to justify what it's doing in the context of a more profit-focused inflation story." Instead, national accounts and earnings reports from listed companies are being used as proxies to paint the inflation picture. "The main story of the risks going forward is still that there's a looming wage-price spiral which should make the central bank even more aggressive in hiking interest rates." loadingloadingEven inside the ECB, labour representatives demanding higher pay for central bank staff have distanced themselves from what they described as the institution's "anti-worker bias".

[1/3] Greta Thunberg is carried away as activits demonstrate outside the Ministry of Finance entrance and several other ministries in protest that the wind turbines at Fosen, which the Supreme Court has said are illegal, have not been demolished. Alf Simensen/NTB/via REUTERSOSLO, March 1 (Reuters) - Norwegian police on Wednesday briefly detained environmental campaigner Greta Thunberg during a demonstration in Oslo, removing her and other activists from the finance ministry. The campaigners are demanding the removal of wind turbines from reindeer pastures on Sami Indigenous land in central Norway. Thunberg, holding a red, blue, yellow and green Sami flag, was lifted and carried away by police officers while hundreds of demonstrators chanted slogans. Activists on Tuesday said they had raised close to $100,000 in recent days to help individual demonstrators pay police fines.

☆ Thunberg, other protesters block Norway energy ministry over wind farms
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

The reason for the action is that the wind turbines at Fosen, which the Supreme Court has said are illegal, have not been demolished. NTB/Ole Berg-Rusten via REUTERSOSLO, Feb 27 (Reuters) - Environmental campaigner Greta Thunberg and dozens of other activists on Monday blocked entrances to Norway's energy ministry, protesting against wind turbines built on land traditionally used by indigenous Sami reindeer herders. Norway's supreme court in 2021 ruled that two wind farms built in central Norway violated Sami rights under international conventions, but the turbines remain in operation more than 16 months later. "I am here to support the struggle for human rights and indigenous rights," Thunberg told Reuters while sitting outside the ministry's main entrance with other demonstrators. The government has said the ultimate fate of the wind farms is a complex legal and political quandary despite the supreme court ruling and is hoping to find a compromise.

☆ Tesla changes U.S. prices for fourth time in two months
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Victoria KlestyCompanies Tesla Inc FollowFeb 14 (Reuters) - Tesla (TSLA.O) has changed prices for one version of each of its Model 3 sedan and Model Y crossover, the fourth price adjustment by the electric vehicle maker since the start of the year. Tesla increased the price of its Model Y performance crossover by $1,000 to $58,990, its website showed. Tesla rolled out sweeping price cuts in January across its line-up and in all of its major markets. Some owners of Tesla's in the United States had complained that the price cuts also eroded the resale value of their vehicles. Tesla's price cuts this year came after nearly two years when it had been pushing prices higher and could not keep up with demand.

The fund has long engaged on climate change with the companies it invests in. Last year, it voted against the re-election of 61 directors at 18 companies due to failures in adequately managing climate risk. In 2022, the fund discussed climate change at 810 meetings it held with companies that represent 33% of the value of the its equity portfolio. One of them was oil major Shell (SHEL.L), with whom the fund discussed the company's energy transition plan and climate change, it said. In a sign of its focus on climate, the fund no longer prints the report, making it available online only.

"We will now vote against board members if a company has experienced material failures in the oversight, management or disclosure of climate risk," the fund said in its annual report on responsible investments, published on Thursday. The fund has long engaged on climate change with the companies it invests in. In 2022, the fund discussed climate change at 810 meetings it held with companies that represent 33% of the value of the fund's equity portfolio. One of them was oil major Shell (SHEL.L), with whom the fund discussed the company's energy transition plan and climate change, it said. Climate change was the second-most important issue discussed by the fund with companies after "human capital management", or how companies invests in their workers.

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