Norway's Sovereign Wealth Fund to Oppose Nike Shareholder Proposal

Norway's $1.7 trillion sovereign wealth fund, the largest in the world, will vote against a shareholder proposal urging Nike to evaluate the effectiveness of its supply chain policies in safeguarding workers' rights. The fund owns a 0.92% stake in Nike, valued at $1.05 billion, making it the ninth-largest shareholder.

Norway's $1.7 trillion sovereign wealth fund, the world's largest, announced on Thursday its decision to vote against a shareholder proposal calling on Nike to scrutinize the efficacy of its supply chain policies in protecting workers' rights.

The wealth fund, which holds a 0.92% stake in Nike—valued at approximately $1.05 billion as of June 30—has taken a definitive stance on this issue. Fund data confirm its position as Nike's ninth-biggest shareholder, according to LSEG data.

This move underscores the fund’s strategic decisions and investment principles in scrutinizing corporate governance and ethical practices within its portfolio companies.