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We invest and exercise our ownership rights responsibly, because the fund’s investments are about the future and belong to our future generations. We aim to contribute to efficient and well-functioning markets and promote work on international standards for responsible investment.


Responsible investment

We manage the fund responsibly in order to support the investment objective of the highest possible return with a moderate level of risk. Read about our responsible investment in 2016.

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Responsible investment

We are an active owner

2016 saw 3,790 meetings between representatives of the fund and companies’ management, and we voted at 11,294 shareholder meetings. We have clear expectations of companies in areas such as corporate governance, shareholder rights, social issues and the environment. Our tools for active ownership are dialogue with companies, investors, regulators and other standard setters, voting at shareholder meetings and filing shareholder proposals. Our mission is to safeguard and build financial wealth for future generations. Active ownership protects shareholders’ rights and provides a basis for profitable commercial activity. Responsible investment safeguards the value of investments. This will benefit the people of Norway.

Voting records
Responsible investments

Risk management

Our focus areas

We work on selected issues that are relevant across multiple sectors, and have formulated expectations for how companies should manage risk and report on their activities. We have three focus areas dealing directly with environmental and social issues:

More on risk management

Exclusion of companies

Norges Bank decides on the exclusion of companies from the fund’s investment universe, or to place them on an observation list. The decisions are based on recommendations from the Council on Ethics appointed by the Ministry of Finance. 

Excluded companies