The fund's ethical flagship can be converted into a toothless internal advisory group
The proposals in the recent Gjedrem report involve a dramatic weakening of the fund's ethical…
Norway has been a leader in responsible capital management for over 20 years, with a model based on ethical guidelines set by the Storting. The guidelines have been implemented through an independent ethics council, which assesses the risk of companies violating human rights, international law, and environmental norms, and advises on exclusion or observation.
The council's recommendations are then used by Norges Bank to make final decisions. A proposed change by the Gjedrem committee would weaken the fund's ethical compass, limiting the ethics council's independence and reducing transparency, potentially allowing economic interests to override ethical considerations.
Written by urgent.news from E24 Norway's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
