Norway’s $1.4 trillion sovereign wealth fund, one of the world’s largest investors, said on Saturday it will vote against a resolution calling on British oil major BP (BP.L) to adopt tougher greenhouse gas targets.

While BP already aims to reduce emissions, the motion filed by activist group Follow This ahead of an April 27 shareholder vote calls on the company to align with the Paris climate deal’s goal to limit global warming.

Norges Bank Investment Management (NBIM), which operates the Norwegian fund, said last year that it plans to take a tougher line on companies that do not adopt credible climate plans.

It did not give a reason for rejecting the motion. But the fund has said in the past that while it sometimes backs environmental, social and governance (ESG) proposals put forward by activist groups, it carefully judges each case on its merits.

[How very interesting this development is! Money talks, and they are not rolling over for whatever insanity activists demand, whenever they demand it. Maybe there’s the tiniest ray of hope. ~ Beege]