The Executive Board’s decision to revoke the exclusions was made on the basis of a recommendation from the Council on Ethics, which regularly shall assess whether the basis for observation or exclusion still exists. Cairn Energy Plc and Kosmos Energy were excluded based on an unacceptable risk related to petroleum prospecting off the coast of Western Sahara. The companies have made it clear for the Council on Ethics that they have discontinued their business in the relevant area. The Council on Ethics has on the basis of this information recommended the bank to revoke the exclusions (see § 5, subsection 5, of the Guidelines for observation and exclusion from the Government Pension Fund Global).
For more information, contact:
Director of Communications, Norges Bank
Phone: +47 952 14 283