The Government Pension Fund

The purpose of the Government Pension Fund is to facilitate government savings to finance rising public pension expenditures, and support long-term considerations in the spending of government petroleum revenues. A sound long-term management of the Fund contributes to intergenerational equity, by allowing both current and future generations to benefit from the petroleum revenues.

The Government Pension Fund

The investment strategy for the Fund is based on long-term considerations of different investment choices. Good financial return over time is deemed to be contingent on a sustainable development in economic, environmental and social terms, and on well-functioning, efficient and legitimate financial markets.

High degree of transparency

Transparency is a prerequisite for ensuring widespread confidence in the management of the Government Pension Fund. Management performance is reported by Norges Bank and Folketrygdfondet on a regular basis. The Ministry accounts for the management of the Fund in an annual report to the Storting, as well as in the National Budget.

 

Report No. 19 to the Storting:The Management of the Government Pension Fund in 2013

The Management of the Government Pension Fund in 2013

In this report, the Ministry of Finance presents management performance and assessments of the management of the Government Pension Fund for 2013.

 

 

 

 

National Budget 2015National Budget 2014

 

 

 


News:

The Expert Group on investments in coal and petroleum companies invites to a stakeholder meeting

The Ministry of Finance has appointed an expert group to assess the Government Pension Fund Global's (GPFG) appropriate use of policy instruments and investments in coal and petroleum companies. The Storting (the Norwegian parliament) has asked the government to establish the group, which will evaluate whether the exclusion of coal and petroleum companies is a more effective strategy for addressing climate issues in the management of the GPFG than the exercise of ownership and exertion of influence.

A sound and responsible management of the Government Pension Fund

"The Government is today presenting a report to Parliament (Storting) on the management of the Government Pension Fund in 2013. - The Fund has served us well and it gives important contributions to the financing of our welfare state", says Minister of Finance Siv Jensen.

The Norwegian Government Pension Fund Global - a financial investor, not a political policy tool

Over the last few months Norway has witnessed a political debate about whether the Government Pension Fund Global (GPFG) should divest from all coal or petroleum companies. Today we announce that we have asked an Expert Group to look at how we should address the issue of climate gas emissions from coal and petroleum companies. The Expert Group's conclusions will be presented in Autumn 2014. However, independently of its recommendations, the GPFG will continue to be a well-diversified, global financial investor and not a policy tool, says Minister of Finance Siv Jensen.

Expert group on investments in coal and petroleum companies

The Ministry of Finance has appointed an expert group to assess the Government Pension Fund Global's (GPFG) appropriate use of policy instruments and investments in coal and petroleum companies.

Mandate for the Expert Group on investments in coal and petroleum companies and climate gas emissions

The Expert Group shall evaluate whether the exclusion of coal and petroleum companies is a more effective strategy for addressing climate issues and promoting future change than the exercise of ownership and exertion of influence. The Group shall also advise on possible criteria for the potential exclusion of these types of companies.

Members - Expert group on investments in coal and petroleum companies

The group will be chaired by economist Martin Skancke, who will be joined by Professor Elroy Dimson, Professor Michael Hoel, Professor Laura Starks, Dr. Juris. Gro Nystuen and Research Director Magdalena Kettis.

New decisions about the Government Pension Fund Global

The Ministry of Finance has decided to exclude the companies Sesa Sterlite, Africa Israel Investments and Danya Cebus from the Government Pension Fund Global (GPFG).

Companies Excluded from the Investment Universe

Even a rich nation can bleed dry – but we have not

There are always challenges in managing a nation's economy, not least when the natural resource base suddenly increases tremendously. History shows that the blessings of natural resources may turn into a curse for the countries involved. Securing a sound development of the mainland economy and enabling future generations to share in the benefits of the petroleum resources are key concerns for Norwegian economic policy.

More documents about this subject

Contact information

Asset Management Department

Telephone: +47 22 24 41 63
Fax: +47 22 24 95 91

Address

The Ministry of Finance
Asset Management Department
P.O. Box 8008 Dep
0030 Oslo
Norway

Old Government Building: Stairway

Contact information

Asset Management Department

Telephone: +47 22 24 41 63
Fax: +47 22 24 95 91

Address

The Ministry of Finance
Asset Management Department
P.O. Box 8008 Dep
0030 Oslo
Norway