Government Pension Fund
Ethical guidelines for the management of the Government Pension Fund Global have been in place since 2004. The Ministry considers sound financial return over time to be conditional upon sustainable economic, environmental and social development, as well as well-functioning, legitimate and efficient markets.
Active ownership is a key tool in the management of the Government Pension Fund. Norges Bank and Folketrygdfondet exercise the ownership rights of the GPFG and the GPFN, respectively, independently of the Ministry of Finance.
Norges Bank decides on whether to exclude individual companies from the GPFG, or place companies under observation. The decisions are based on recommendations provided by the Council on Ethics.