{
  "id": 14632008,
  "title": "Ny rapport: Slik vil de endre oljefondets etikkråd",
  "url": "https://urgent.news/2026/10/15/ny-rapport-slik-vil-de-endre-oljefondets-etikkrad",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-15T06:30:28.000Z",
  "source": {
    "name": "E24 Norway",
    "slug": "e24-norway",
    "url": "https://e24.no/norsk-oekonomi/i/xlb39Q/ny-rapport-slik-vil-de-endre-oljefondets-etikkraad"
  },
  "original_language": "en",
  "account": "On Thursday morning at 09.00, the committee will present its 434-page report to the financier, Minister Jens Stoltenberg (Ap). VG's news article on Thursday morning states that committee leader Svein Gjedrem emphasized the importance of extending the fund's ethical principles while adapting its means of operation. The ethics committee had been put on hold last fall when Stoltenberg approached the Storting with new and temporary ethical guidelines, losing its authority to propose exclusion. Shortly after, prominent human rights lawyer Cecilie Hellestveit resigned in protest. Stoltenberg argued that he would protect the fund from political unrest and global swings. According to Gjedrem's statement, the committee proposes to continue an independent professional ethics committee, but with altered work tasks: \"The committee should continue to assess the risk that the fund is invested in companies that contribute to or are responsible for major breaches of norms, but should not be allowed to do so.\" The fund's owner, the Bank of Norway, should decide on the means of operation, according to Gjedrem's proposal: \"The bank has overall responsibility and chooses the means of responsible management,\" writes the committee leader in VG's article. Gjedrem also notes that the fund has two ethical obligations which it considers important to balance: The committee believes that the threshold for exclusion should be high. And that threshold becomes even higher if the government and Storting follow the committee's recommendation. In the report, the Gjedrem committee states that the Bank of Norway, as fund manager, should assess the connection between norm violations and the companies in which the fund invests, and the likelihood of future violations. The committee proposes that the bank should generally seek to mitigate the risk of such violations through ownership action. It also stresses that the Bank of Norway, rather than \"can\" as previously, when deciding on investment means, should consider the scope of the company's business and the company's willingness to change. According to Gjedrem's statement in VG, the committee also opens the door for a reversal in the exclusion of companies that produce nuclear weapons: They propose to reconsider companies that produce nuclear weapons, provided they have headquarters in recognized NATO countries. This means in practice that the oil fund could be granted permission to invest in major producers of military equipment in the United States, the United Kingdom, and France. This could include large global weapons manufacturers such as Lockheed Martin, Boeing, General Dynamics, BAE Systems, and French Airbus. It is at least strange or paradoxical that companies that supply weapons, of which Norway is dependent, are companies we cannot invest in, said Jens Stoltenberg to VG in October last year. Gjedrem explains the change in the VG article: \"The security situation has changed, we are building up the Defense, the protection provided by NATO's nuclear umbrella has gained increased importance, and companies that are being re-added produce weapons that we need for our own protection.\"",
  "summary": "Gjedrem-utvalget vil beholde oljefondets etikkråd som vaktbikkje, men mister retten til…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}