Norway Wealth Fund CEO Says AI Ends the Need for Climate Hires

Norway’s sovereign wealth fund, the world’s biggest, is giving artificial intelligence a key role in protecting its $2 trillion portfolio from climate risk.

Norges Bank Investment Management will use AI for a range of tasks including to “extract signals from company dialogues,” according to its 2030 Climate Action Plan. The fund also intends to use AI to improve decision making, and “to strengthen investment processes across teams,” ultimately helping it identify corporate winners and losers, it said.

“AI has become a real game-changer for how we work on climate,” the wealth fund’s chief executive, Nicolai Tangen, told Bloomberg. ...