OSLO: The pension fund fueled by Norway’s oil revenue is set to oppose global power company AES Corp. on four corporate- governance proposals–and a fund spokeswoman says more such announcements are likely as annual-meeting season gets under way.
Norges Bank Investment Management said it will support a shareholder proposal to let big shareholders list competing board candidates on AES’s official corporate ballots, as well as a proposal to let holders of at least 20% of the company’s shares call a special shareholder’s meeting. It will oppose similar management proposals that it calls too limited.
