We manage the fund on behalf of the Norwegian people – both current and future generations. We are dependent on confidence to achive our mission, so we aim to be a professional, transparent and responsible investment manager. However, there are some topics we cannot inform about – matters that others should discuss, and information that is market sensitive. Otherwise, our goal is for the people of Norway and others to be able to find all the information they need about the fund and its investments.
25 November 2014
Clarification regarding the fund’s investments in coal
In a public hearing in the Standing Committee on Finance and Economic Affairs in January, CEO Yngve Slyngstad explained that the fund’s exposure to the coal sector was between 2.6 billion kroner and 116 billion kroner at the end of 2013, depending on how the coal sector is defined. The criticism towards the fund that the fund has given inaccurate information in the hearing, is groundless.
HEAD OF COMMUNICATIONS & EXTERNAL RELATONS
Phone: (+47) 24 07 32 76
Mobile: (+47) 926 01 756
Questions about individual investments or assessments of future market developments may be market sensitive and therefore cannot normally be discussed by Norges Bank Investment Management. The Ministry of Finance makes the decision to exclude companies from the fund’s investment universe on the basis of recommendations from the Council on Ethics. Questions about exclusions should therefore be addressed to the Council on Ethics or the Ministry of Finance.