Ethical exclusions
The Council on Ethics has been appointed by the Ministry of Finance to assess whether the fund's investments in individual companies are in breach of the ethical guidelines of the Government Pension Fund Global.
Published: 04/11/2025
Last updated: 04/11/2025
The Council on Ethics sends its recommendations to the Executive Board of Norges Bank, which makes decisions on exclusion, observation or exercising ownership. These decisions also apply to Folketrygdfondet's investments in the Nordic countries.
The following companies are excluded from the Government Pension Fund Norway's investment universe:
Scandinavian Tobacco Group A/S (7. september 2022)
Last updated: 31.12.2024