Public hearing – investments in coal and petroleum companies

Today, the Ministry of Finance has circulated the report from the Expert Group on the Government Pension Fund Global’s investments in coal and petroleum companies for a public hearing amongst Norwegian stakeholders.

The Expert Group has evaluated whether the exclusion of coal and petroleum companies is a more effective strategy for addressing climate issues than the exercise of ownership and exertion of influence.

Amongst the suggestions from the Expert Group are a mechanism for excluding the worst cases of climate offenders from the Fund on a case-by-case basis and enhanced efforts as regards the Fund’s active ownership and engagement. In the Group’s view, the ownership efforts should be the primary tool, and the exclusion and engagement processes should work together in a coordinated way.

As part of the public hearing, it is possible to submit an input (postmottak@fin.dep.no). Please note that such input is public after Norwegian law and will be published together with other inputs.

Together with the recommendations in the report from the Expert Group, the input from the hearing will form part of the basis for the Report (White Paper) to Parliament on the Management of the Government Pension Fund in spring 2015.

Deadline for submitting submission is 6 February 2015.

Report from the Expert Group (pdf)