Corporate Governance Principles
NBIM’s principles are based on internationally accepted global standards, such as the OECD Principles of Corporate Governance and Guidelines for Multinational Enterprises, and the United Nations Global Compact.
The company’s objective is to build and safeguard long-term shareholder value
The company must have a clearly defined objective and a business strategy. To protect the interests of shareholders and prevent the company from diverging from value-creating strategies, fundamental decisions should be taken by the shareholder meeting. Such decisions are changes to the business purpose and bylaws, changes to shareholder rights, significant changes to the share capital, and the election of board directors. The company must provide adequate and timely information on all matters material to the valuation of the company.
The company’s board of directors shall work in the interest of all shareholders
The board shall take a long-term view of value creation, be sufficiently independent and provide management with opportunity and adequate incentive to build profitable business that can be sustained. It is the board’s responsibility to ensure internal control and equitable treatment for all shareholders. In fulfilling its tasks, the board is accountable to shareholders for its decisions. Shareholders should be able to propose, elect and dismiss board directors at shareholder meetings
without unreasonable hindrance.
The company must address the impact of its activities on society and the environment
The company’s board of directors is responsible for the establishment of a strategy and policies securing business practices that are consistent with sustainable development.
