Norway's wealth fund using AI to screen for ESG risks


FILE PHOTO: AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

OSLO, Feb 26 (Reuters) - Norway's $2.2 ⁠trillion sovereign wealth fund, the world's largest, is using AI ⁠to screen companies for risks such as potential links to ‌forced labour and corruption, and help avoid financial losses as a result, it said on Thursday.

One of the world's largest investors, the fund holds stakes in around 7,200 companies ​globally, owning about 1.5% of all listed ⁠stocks. It has often set ⁠the pace on environmental, social and governance issues.

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