Norway urged to scrap ban on $1.8 trillion wealth fund investing in weapons makers

Norway urged to scrap ban on $1.8 trillion wealth fund investing in weapons makers

The debate over how Norway's wealth fund should respond to the security landscape comes at a time of higher defense spending and soaring industry profits.

Danske Bank Removes Investment Restrictions on Defense Assets

Danske Bank A/S is removing restrictions that had prevented its asset management and pension units from holding defense assets.

Norway's government is facing growing pressure to allow the country's $1.8 trillion Sovereign Wealth Fund to invest in certain defense companies, with opposition parties describing the current ban as "illogical" in the current security landscape, CNBC reports.

It is worth recalling that since the beginning of 2000, the largest sovereign fund worldwide has been prevented from taking part in companies that produce critical components for nuclear weapons, while according to ethical standards it is also prohibited to invest in companies that participate in the production of cluster munitions or anti-personnel landmines. From the Norwegian Central American Conservative Party they are clear that the time ha…

Wealth holding Porsche SE is looking for new business areas. The re-entry into the armaments business is also within the scope.

The French government has unveiled a new fund, under the administration of state bank Bpifrance, worth 450 million euros, to allow ordinary French people to contribute to investments in French arms firms. The minimum deposit is 500 euros and, according to Economy Minister Eric Lombardo, thus the government responds to public inquiries about how citizens can contribute to the defense of France. Following Russia's invasion of Ukraine, several inve…