Responsible investing

The Government Pension Fund

Responsible investing is an integrated part of the management of the Government Pension Fund. The purpose is to safeguard and promote the Fund's financial interests by promoting responsible business conduct and long-term value creation in the companies in which the Fund is invested. The Ministry of Finance consider the long-term return on the GPFG and the GPFN to be dependent on sustainable development and well-functioning markets.

Norges Bank's work on responsible investing


The aim of Norges Bank's responsible investing activities is to promote long-term value creation and to contribute to good corporate governance and responsible business conduct. In its management of the GPFG, Norges Bank shall emphasise the fund's long investment horizon and broad diversification.

Ethical guidelines


The Government Pension Fund Global (GPFG) has been subject to ethical guidelines since 2004. 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.

Meld. St. 22 (2023-2024)

The Government Pension Fund 2024

The annual white paper on the management of the Government Pension Fund reports on results in the management of the Government Pension Fund Global (GPFG) and the Government Pension Fund Norway (GPFN), and discusses development of the investment strategy and framework for responsible investment.


Asset Management Department

Phone: +47 22 24 90 90
Address: Postboks 8008 Dep, 0030 Oslo
Visitor address: Akersgata 40, 0030 Oslo