Behind the Balance Sheet

E3 Carine Smith Ihenacho of Norges Bank IM


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Carine Smith Ihenacho is Chief Governance and Compliance Officer at Norges Bank Investment Management, the Norwegian wealth fund. It’s the largest single equity owner in the world and sets out to be the most transparent. She is therefore likely the most powerful person in the world of ESG.

In our podcast episode, Huw van Steenis and I discussed:

  • How you can combine sustainability with the
  • pursuit of returns
  • The difference between the US and Europe when it
  • comes to the energy transition
  • How the fund takes action to divest and exclude
  • companies on climate, enviromental and even tax grounds
  • How NBIM conduct their reviews
  • Issues with ESG ratings and how they can be
  • improved
  • Why companies pushing back targets paradoxically
  • may be a sign of progress


    Carine is uniquely placed to comment on the

    energy transition and all things relating to governance and this was a fascinating conversation.

    Show Notes

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    Behind the Balance SheetBy Stephen Clapham's Podcast on Value Investing | Stockmarket Analysis | Equities

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