Storebrand Asset Management, a financial services company in Norway, announced that they will be staying far away from any investment in Activision-Blizzard. Activision-Blizzard is still reeling over claims of sexual harassment and gender discrimination in the workplace, which has kept many investors away.
“We have now excluded Activision Blizzard due to discrimination against female employees, including pay conditions, promotion, and a culture of sexual harassment,” said Jan Erik Saugestad, Executive Vice President of Asset Management of Storebrand.
Saugestad went on to say that social conditions in ESG (environment/climate, social conditions, and corporate governance) are becoming increasingly important. Moreover, Storebrand, through active ownership and influence, will make the companies recognize the challenges and show a willingness to change.
“In this case, we have not received the response from the company that we wanted and expected, and we see little willingness to address these issues,” added Saugestad.