Socially responsible investments/history
The Environmental Fund
The Environmental Fund was established on 31 January 2001.
With Effect from 1 December 2004 the Government has determined to include the Environmental Fund in the Petroleum Fund's ordinary portfolio. Read more about the Environmental Fund.
The Petroleum Fund Advisory's Commission on International Law
On 30 November 2001 the Government appointed a special advisory Commission on International Law for the Petroleum Fund. The Commission should, at the request of the Ministry of Finance provide an evaluation of whether specific investments are in conflict with Norway’s commitments under international law.
In line with a recommendation from the Petroleum Fund Commission, the Government decided on 26 April 2002 that Norges Bank would not invest in financial instruments issued by the company Singapore Technologies Engineering because it is considered highly probable that this company manufactures landmines.
With effect from 1 December 2004 the commission is replaced by the new Advisory Council on Ethics.
The Commission on Ethical Issues for the Petroleum Fund
The commission appointed by the Government to propose ethical guidelines for the Petroleum Fund submitted its report to the Ministry of Finance on 26 June 2003.
Submissions from Norges Bank
Norges Bank has sent the Ministry of Finance a number of advisory submissions, which have included descriptions of various types of ethical guidelines and the possible consequences for the management of the Petroleum Fund of introducing these guidelines.