Temporary changes to the ethical framework for the GPFG

The Norwegian Parliament (Stortinget) has requested that the government review the ethical framework for the Government Pension Fund Global (GPFG). In line with the Parliament’s decision, the Ministry of Finance has initiated a review of the ethical framework and established interim ethical guidelines that will apply until a new ethical framework is in place. During this period, the Council on Ethics will continue to monitor the fund’s investments to identify companies that contribute to or are responsible for production or behaviour as set out in the guidelines. The Council will not make recommendations on observation or exclusion, but will inform Norges Bank about companies it identifies for potential ownership activities. Norges Bank will not make decisions on observation or exclusion but will follow up with companies through its regular ownership activities in accordance with the management mandate from the Ministry of Finance.

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