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Decision to revoke exclusion of company from the Government Pension Fund Global

25 January 2017

Norges Bank has decided to revoke the exclusion of Raytheon Co from the Government Pension Fund Global. The company was excluded from the fund in 2005 due to production of cluster munitions.

The Executive Board’s decision to revoke the exclusion 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. The Council on Ethics has received confirmation from Raytheon Co that the company no longer has any activities associated with production of cluster munitions. The Council on Ethics has on the basis of this information recommended the bank to revoke the exclusion (see § 5, subsection 5, of the Guidelines for observation and exclusion from the Government Pension Fund Global).

The Council on Ethics’ recommendation
List of all excluded companies

For more information, contact:

Runar Malkenes, 
Director of Communications, Norges Bank
Phone: +47 952 14 283