ESG Blacklash Is ‘Seriously Bad,’ Norway Wealth Fund CEO Says

The chief executive officer of Norway’s sovereign wealth fund has warned of the fallout on investments and the wider economy of the political backlash against ESG that’s now gripping the US.

The development is “really, really seriously bad,” Nicolai Tangen, CEO of Norges Bank Investment Management, said in an interview on Bloomberg TV on Wednesday with Lisa Abramowicz. Investing in a way that takes the environment, social justice and good governance into account “is just not politics, it’s common sense,” he said.

In an “extreme” scenario in which the world becomes uninhabitable because ESG factors have been ...