Norway's sovereign wealth fund should invest in major defence groups, commission concludes
The proposal would let Norway’s fund buy some weapons makers while weakening the ethics watchdog and keeping some investment reviews confidential.
- On Thursday, Norway is expected to overhaul ethical rules for its $2.3 trillion wealth fund following a state-appointed commission's findings, a year after pausing divestments amid foreign scrutiny.
- The Trump administration protested the fund's divestment from Caterpillar over the use of bulldozers in Gaza and the West Bank, prompting the government to pause ethics-based divestments pending this review.
- Finance Minister Jens Stoltenberg, a former Nato secretary-general, noted that 10 tech giants including Nvidia, Apple, and Amazon account for over 20% of the fund's portfolio value.
- Lifting the nuclear weapons investment ban would allow the fund to invest in major defence companies like Boeing, Airbus, and Northrop Grumman, potentially enabling tens of billions in new allocations.
- The Red Cross warned that reducing transparency could undermine global standards, though Stoltenberg stated, "At the same time, we must have a good ethical framework" as value chains integrate.
71 Articles
71 Articles
Norway's sovereign wealth fund will in future be able to invest money in large Western arms companies, even those that are involved in the production of nuclear bombs. Such investments have been banned until now, but now an expert panel dealing with the issue is recommending a relaxation of ethical guidelines. This is significant because the Norwegian sovereign wealth fund is the largest such investment fund in the world. It doesn't matter where…
So far, the Fund has excluded 14 companies for developing nuclear weapons. It will invest, as long as they belong to countries allied with Norway. The decision, the government says, is linked to national security issues. The post Norway: State investment fund examines investments in nuclear weapons manufacturers appeared first on in.gr.
Norway's oil fund should be able to invest in companies that produce components for nuclear weapons. This is stated in the recommendations that a committee of experts has just handed over to the Norwegian government. But the recommendations arouse outrage in several Norwegian parties.
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