GPFG Strategy Council to Meet to Discuss LT Strategy and Responsible Investing

Norway’s US$ 803.9 billion sovereign wealth fund, the Government Pension Fund Global (GPFG), may face changes in their responsible investing guidelines. On November 11, 2013, the Strategy Council of the Pension Fund Global will meet to discuss topics such as the long-term investment strategy of the sovereign wealth fund, investment strategy shifts, responsible investing and transparency issues. The Norwegian Ministry of Finance also tasked the council to produce a report on responsible investing – a theme garnered by many Western European public asset owners.

This council meeting is playing out in the backdrop of Norway’s Labour Party calling on the sovereign wealth fund to ban investing in coal producers. The majority of Norway’s sovereign wealth assets are derived from fossil fuel extraction.

The sovereign fund is prohibited from investing in companies that produce nuclear weapons, cluster bombs, landmines and tobacco companies. In addition, Norway’s GPFG cannot invest in firms involved in systematic human rights violations, corruption and companies who commit significant environmental harm.

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