Norway Reviews Ethical Investment Rules for Its Sovereign Wealth Fund

On 15 October, a government-appointed commission recommended changes to the ethical investment rules governing Norway’s sovereign wealth fund, which Reuters valued at approximately $2.3 trillion. The proposals include allowing investment in certain major Western defence companies currently excluded because of their involvement in nuclear weapons production; the recommendations are not yet final policy. Investors and companies need ESG analysis, sustainability reporting and ethical-risk assessments to evaluate changing investment rules. The $2.3 trillion figure represents the fund’s approximate size, not a new sustainability contract or investment award.