Home / Business and Economy / Norway Fund Votes Against Meta Director
Norway Fund Votes Against Meta Director
23 May
Summary
- Fund supported five of 10 shareholder proposals.
- Meta must draft an AI data protection assessment.
- Norway's wealth fund expressed dissatisfaction.
Norway's substantial $2.3 trillion wealth fund has taken a stance against Meta, expressing dissatisfaction that led to opposition regarding a director's reappointment. This significant investor has backed five shareholder proposals out of ten presented.
A key outcome of these proposals is the mandate for Meta to create a data protection impact assessment. This assessment will specifically focus on how the company collects and uses user interactions with its generative artificial intelligence chatbots, signaling increased oversight.
The fund's actions underscore a broader trend of shareholder activism focused on the ethical and privacy implications of artificial intelligence technologies. Investors are demanding greater transparency and accountability from tech giants regarding data usage and AI development.
