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 framework for the Government Pension Fund and the management of fund assets are laid down by Act of Parliament and guidelines with supplementary provisions.
The Ministry of Finance holds the overall responsibility for the management of the Government Pension Fund. The operational management of the GPFG and GPFN is carried out by Norges Bank and Folketrygdfondet, respectively, under mandates laid down by the Ministry.
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.
The Ministry of Finance is to ask the Strategy Council to assess whether the Government Pension Fund Global should invest in infrastructure.
GPFG's investments in coal and petroleum companies
– The expert group's report gives us a good platform for further discussions, and I look forward to the coming debate, says Minister of Finance Siv Jensen.