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Decision on observation

Norges Bank has decided to place a company under observation.

22 February 2023

Norges Bank’s Executive Board has decided to place the company Polski Koncern Naftowy Orlen SA under observation for a period of three years due to unacceptable risk that the company contributes to serious violations of human rights, ref. the conduct-based criteria in section 4 (a) of the Guidelines for Observation and Exclusion of Companies from the Government Pension Fund Global. The decision is based on a recommendation from the Council on Ethics of 24 October 2022.

The Executive Board has not conducted an independent assessment of all aspects of the recommendation but is satisfied that the observation and exclusion criteria have been fulfilled.

The Council on Ethics’ recommendation:

Polski Koncern Naftowy Orlen SA

Press contact:

Line Aaltvedt
Head of Media
Tel: +47 948 54 656

See the total list of excluded companies