Norway’s $2 trillion sovereign wealth fund announced on Sunday that it will support a shareholder proposal at Microsoft’s upcoming annual general meeting calling for a detailed report on the risks of operating in countries with significant human rights concerns.

Microsoft’s management has advised shareholders to vote against the proposal, but the Norwegian fund—one of the world’s most influential investors—said such transparency is essential for assessing long-term sustainability risks.

In a rare move, the fund also said it would vote against the re-appointment of CEO Satya Nadella as chair of Microsoft’s board, as well as against Nadella’s pay package. The decision marks one of the strongest stances the fund has taken against governance practices at a major U.S. technology company.

As of June 30, the fund held a 1.35% stake in Microsoft worth $50 billion, making it the fund’s second-largest equity holding globally after Nvidia. According to LSEG data, it is also Microsoft’s eighth-largest shareholder.

The fund’s voting decisions are closely followed by global markets, given its size, influence, and strong emphasis on ethical, environmental, and governance standards.