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Sustainable Business

Norway wealth fund to vote for shareholder climate initiative at Delta Air AGM

1 minute read

A Delta Air Lines Airbus A350-900 plane takes off from Sydney Airport in Sydney, Australia, October 28, 2020. REUTERS/Loren Elliott/File Photo

OSLO, June 14 (Reuters) - Norway's $1.4 trillion sovereign wealth fund, the world's largest, said on Monday it would support a shareholder initiative to make Delta Air (DAL.N) report on its climate lobbying efforts.

The fund will support the motion at the airline's June 17 annual general meeting, despite the management's recommendation to reject it.

"The board should account for material sustainability risks facing the company, and the broader environmental and social consequences of its operations and products," the fund said on its website.

The Norwegian sovereign wealth fund had a 0.3% stake in Delta Air worth $77.9 million at the end of 2020, according to fund data.

Reporting by Terje Solsvik, editing by Gwladys Fouche

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