Norway wealth fund Microsoft vote raises human rights concerns

Norway wealth fund Microsoft vote raises human rights concerns

Norway’s $2.1 trillion sovereign wealth fund backs Microsoft amid shareholder concerns over human rights vetting. Norway’s $2.1 trillion sovereign wealth fund has taken a prominent stance in a contentious debate over human rights and corporate responsibility, backing Microsoft Corp. against a shareholder proposal that would have required the software giant to enhance its due diligence on human rights. The issue emerged after reports suggested that Microsoft products were used by the Israeli military for mass surveillance in Gaza and the occupied West Bank. The fund, officially managed by Norges Bank Investment Management (NBIM), revealed its voting intentions ahead of Microsoft’s annual shareholder meeting, scheduled to be held virtually on December 5. NBIM disclosed on Sunday that it would oppose the proposal, a position in line with its long-standing practice of publishing voting recommendations five days before shareholder meetings. NBIM holds approximately $50 billion worth of Micros…