In a press release, the Palace writes:
“In its evaluation, the Council of the Order placed substantial emphasis on the considerable contribution he has made to the Norwegian economy. Due to Mr. Kjær’s independent and purposeful work with ethical guidelines for investment management, NBIM has assumed an important role in the areas of corporate governance and the promotion of ethical principles in management. His successful management of the Government Pension Fund - Global has been of considerable importance to the financing of future pensions and the future welfare of this country.
The Council also stressed the fact that transparency in the management of the Fund internationally is held up as an example to be followed. He has thus underpinned the Fund’s role as a large and important network builder among institutional investors internationally.
The decoration will be conferred by Chief of the Chancellery Egil Vindorum, assisted by Thomas Gram at 3pm on Wednesday 3 September 2008 at a ceremony at Norges Bank in Oslo.”
Norges Bank congratulates Knut N. Kjær with his appointment.