Report from the expert group on investments in coal and petroleum companies

An expert group appointed by the Ministry of Finance today presents its report on the Government Pension Fund Global. The expert group has evaluated whether the exclusion of coal and petroleum companies is a more effective strategy for addressing climate issues than the exercise of ownership and exertion of influence.

– There is broad political consensus that any adjustments in the management of the fund should be based on thorough scientific assessments. The expert group's report gives us a good platform for further discussions, and I look forward to the coming debate, says Minister of Finance Siv Jensen.

The expert group was appointed on April 4. The members have been economist Martin Skancke (chair), Professor Elroy Dimson, Professor Michael Hoel, Research Director Magdalena Kettis, Dr. Juris. Gro Nystuen and Professor Laura Starks. As part of its work, the group has been in dialogue with NGOs, researchers and other stakeholders.

The Ministry of Finance will circulate the expert group's report for consultation before Christmas. The recommendations in the report and input from the consultation will form part of the basis for the Ministry's assessments in the Report (White Paper) to Parliament in spring 2015.

The starting point for all assessments of the strategy for the Government Pension Fund is that the fund should seek the highest possible return within a moderate level of risk. Sound long-term management of the fund will contribute to intergenerational equity, by allowing both current and future generations to benefit from petroleum wealth. Within its role as a financial investor, the fund should be a responsible investor.

________________

Read more:

 

 

Related news

Latest news

UiB and CMR in high-tech collaboration

Students from UiB last month joined an experiment with an ultra-high-speed camera. This was a part of the troubleshooting of the Field Kelvin Probe currently under development.

Hatteland Display at International Workboat Show 2016

Hatteland Display are highlighting its diverse portfolio of maritime displays and panel computers on its booth (#1658) at the International Workboat Show 2016 (IWBS 2016) this week.

Servogear Announces Upcoming Events

Servogear announces a busy end of November, beginning of December. They will be participating at important international exhibitions.

Teamtec and ANDRITZ Cooperation

ANDRITZ and TeamTec have signed a cooperation agreement for worldwide marketing of the SeaSOx exhaust gas cleaning system for the maritime industry. 

Export Credit Norway looking for Norway's Best Exporter

Export Credit Norway  has now opened the nomination process for the 2017 Export Award, searching the Norwegian exporter of the year. 

Global Economic Outlook

7 December, Oslo Chamber of Commerce invites to a session with insightful updates on the Norwegian and international economy.

Rebuilding for Hydrogen

M/Y “Che Guevara”, previously owned by Gaddafi, will be converted to run on hydrogen. Greenstat will lead the project and are seeking partners.

Scana training at Servogear

In week 43-45 Servogear  had the pleasure of having Mr. Sun Xiaojia and Mr. Tzuu Kin Tan from Scana staying in the Servogear hometown of Rubbestadneset.

Quality and Customer Satisfaction

Cost efficiency is important. But we can’t rely on cost-cutting alone. At Beerenberg we have asked ourselves the following question: What does it take for the market to continue to choose providers such as Beerenberg in th...