Norway's Norges Bank Investment Management (NBIM), which is responsible for the investments of the Government Pension Fund Global, has established a new Climate Advisory Board.

The investment manager’s 2025 Climate Action Plan detailed that a board would be set up to support NBIM in implementing its plan on climate action.

The board will also advise NBIM on how to further develop the fund’s approach to managing climate-related financial risks and opportunities.

Professor Jody Freeman, Jennifer Morris, Huw van Steenis and Bjørn Otto Sverdrup have been appointed as external members to the board.

Freeman is professor of law at Harvard Business School and an independent director on the board of directors of ConocoPhillips.

Morris is the chief executive of The Nature Conservancy, while Van Steenis is vice chair at Oliver Wyman and was previously chair of the Sustainable Finance Committee at UBS.

Sverdrup is the chair of the Executive Committee for the Oil and Gas Climate Initiative.

“We are very pleased to have these outstanding experts on our new advisory board,” commented NBIM chief governance and compliance officer, Carine Smith Ihenacho.

“They will provide a wide breath of relevant climate expertise spanning academia, civil society, sustainable finance and business.

“We are confident they will help us maintain leadership in managing climate-related risks as an owner of companies through the climate transition.”

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