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    Half-year report 2026

    12 August: Publication of the fund's half-year reporting 2026 and of total holdings. The results were presented at a press conference at Arendalsuka at 10:00 CEST on the same day.

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    Submissions to ministry

    Translation from Norwegian. For information only.


    2026

    • The Government Pension Fund Global – analyses and assessments of the investment strategy for bonds
    • Geopolitical risk and concentration risk in the equity index of the Government Pension Fund Global

    2025

    • Review of Norges Bank's management of the Government Pension Fund Global
    • Government Pension Fund Global – renewed review of responsible investment work and investments in Israeli companies
    • Government Pension Fund Global – benchmark index for equities

    2024

    • The Government Pension Fund Global’s investments in Russia

    2023

    • Investment strategy for the Government Pension Fund Global – unlisted equities
    • Regulation of unlisted investments in the management mandate for the Government Pension Fund Global
    • The fund in a changing world – consultation response

    2022

    • Government Pension Fund Global – Follow-up of the 2021 white paper on the Government Pension Fund
    • The Government Pension Fund Global's investments in Russia

    2021

    • Work on climate risk in the Government Pension Fund Global
    • Government Pension Fund Global – Experience of the climate criterion
    • Review of the management of the Government Pension Fund Global
    • Environment-related mandates and reporting in the Government Pension Fund Global
    • Climate risk in the Government Pension Fund Global
    • Tax and transparency – follow-up of the Storting’s consideration of the white paper on the fund for 2020
    • The benchmark index for equities
    • Follow-up of recommendations on observation and exclusion of companies from the Government Pension Fund Global
    • Markets in the benchmark index for equities
    • Management of the Government Pension Fund Global in the light of the coronavirus pandemic

    2020

    • Norges Bank consulation response, NOU 2020:7 Values and Responsibility
    • The benchmark index for the Government Pension Fund Global
    • The benchmark index for equities – emerging equity markets
    • Implementation review, strategy period 2017–2019
    • Composition of the benchmark index for equities

    2019

    • Government Pension Fund Global – Account of work on climate risk
    • Energy stocks in the Government Pension Fund Global
    • Mandate for the Government Pension Fund Global – investments in renewable energy infrastructure
    • Mandate for the Government Pension Fund Global – framework for bond investments
    • Phase-in of new equity share for the Government Pension Fund Global
    • Access to invest in unlisted companies seeking a listing
    • Geographical distribution of the benchmark index for equities
    • Equity investments in emerging markets
    • GPFG - Real estate management

    2018

    • Government Pension Fund Global – Periodic evaluation of the organisation of work on observation and exclusion
    • Additional information on coal related operations
    • Guidelines for observation and exclusion
    • The Government Pension Fund Global’s environment-related investment mandates
    • Investments in unlisted renewable energy infrastructure in the Government Pension Fund Global
    • Government Pension Fund Global Guidelines for Observation and Exclusion
    • The rule for rebalancing the equity share in the Government Pension Fund Global
    • Energy stocks in the Government Pension Fund Global
    • Government Pension Fund Global – Reporting on climate risk
    • Expectation document on tax and transparency
    • Government Pension Fund Global – unlisted equity investments

    2017

    • Review of Norges Bank’s management of the Government Pension Fund Global
    • Bonds in the Government Pension Fund Global
    • Investment strategy for the Government Pension Fund Global
    • Bonds in the Government Pension Fund Global
    • Proposed changes to the Management Mandate for the Government Pension Fund Global
    • Experience of the new climate and coal criteria in the Guidelines for Observation and Exclusion from the Government Pension Fund Global
    • Expectations on international corporate tax transparency

    2016

    • Investments in unlisted infrastructure in the Government Pension Fund Global
    • Guidelines for investments in government bonds - Government Pension Fund Global
    • Government Pension Fund Global – management mandate
    • The equity share in the benchmark index for the Government Pension Fund Global
    • Revision of the mandate for the Government Pension Fund Global – changes to the regulation of real estate investments
    • Amendments to the mandate for the Government Pension Fund Global
    • Government Pension Fund Global – Proposed amended provisions on a new product-based coal criterion in the framework for responsible investment, etc.

    2015

    • Government Pension Fund Global – Investments in real estate
    • Government Pension Fund Global – Investments in infrastructure
    • The framework for the management of the Government Pension Fund Global
    • Government pension Fund Global - the limit for benchmark deviations
    • Investments in and policy tools for coal companies
    • The benchmark index for the Government Pension Fund Global
    • Consultation - Report from the expert group on investments in coal and petroleum companies
    • Financial risk associated with climate change

    2014

    • Environment-related investment mandates in the Government Pension Fund GlobaL
    • Framework for the management of the Government Pension Fund Global
    • Review of Norges Bank’s management of the Government Pension Fund Global
    • Review of Norges Bank’s management of the Government Pension Fund Global
    • Consultation – Responsible investment strategy for the Government Pension Fund Global

    2013

    • Listed real estate investments in the Government Pension Fund Global

    2012

    • Government Pension Fund Global – inflation-linked bonds in the strategic benchmark index
    • Government Pension Fund Global – strategic benchmark index for equity investments
    • Emerging markets in a new strategic benchmark index for the Government Pension Fund Global’s bond investments
    • Government Pension Fund Global – rules for rebalancing the benchmark index

    2011

    • Report No. 15 (2010-2011) to the Storting on the Management of the Government Pension Fund in 2010
    • Government Pension Fund Global – investment strategy for nominal bonds
    • Management mandate for the Government Pension Fund Global – supplementary limits
    • The final report from Ernst & Young's review of investment management at Norges Bank

    2010

    • Development of the investment strategy for the Government Pension Fund Global
    • An assessment of the basis for unlisted investments focusing on the environment and sustainable growth

    2009

    • Norges Bank’s active management of the Government Pension Fund Global
    • Hearing on new rules for the management of the Government Pension Fund Global
    • Active management of the Government Pension Fund – Global
    • Risk-based supervision of Norges Bank’s management of the Government Pension Fund – Global

    2008

    • The benchmark portfolio for the Government Pension Fund – Global
    • The consultation on the ethical guidelines for the management of the Government Pension Fund – Global
    • Comments on the report by The Albright Group and Simon Chesterman on the implementation of the ethical guidelines
    • The benchmark portfolio for the Government Pension Fund – Global
    • The ownership limit for the Government Pension Fund – Global
    • The investment universe for the Government Pension Fund – Global: inclusion of pre-IPO companies

    2007

    • Inclusion of real estate investments in the Government Pension Fund - Global

    2006

    • Changes to the benchmark portfolio of the Government Pension Fund - Global

    2005

    • Corporate governance in the Norwegian Government Petroleum Fund

    2004

    • Alternative models for the Environment Fund

    2003

    • Strategic allocation in the Petroleum Fund: an analysis of the basis for
    • Expansion of the benchmark index for the Government Petroleum Fund’s
    • Exercise of ownership rights in the management of the Government Petroleum Fund
    • New evaluation of emerging equity and bond markets

    2002

    • An appraisal of the regional weighting of the Petroleum Fund
    • Expanding the Petroleum Fund’s investment universe

    2001

    • Choice of a new benchmark for the Government Petroleum Fund's fixed income investments
    • Remuneration for management of the Government Petroleum Fund
    • Draft amendment of the Regulation relating to the Management of the Government Petroleum Fund
    • Rebalancing regime for the Government Petroleum Fund
    • An analysis of the Government Petroleum Fund’s equity allocation
    • Bonds with no government guarantee in the benchmark

    2000

    • Choosing between internal and external management for the Government Petroleum Fund
    • Emerging equity markets and the Petroleum Fund's benchmark portfolio
    • The limit on tracking error for the Petroleum Fund
    • Assessment of the Petroleum Fund's ownership limits
    • Proposed guidelines for the environmental fund

    1999

    • The Government Petroleum Fund - evaluation of potential new markets
    • Implications for the management of the Government Petroleum Fund if special environmental considerations are used as a basis for the choice of investment strategy

    1998

    • Consequences of introducing special ethical guidelines for the management of the Petroleum Fund

    1997

    • Proposal for guidelines for the Government Petroleum Fund
    • Future management of the Government Petroleum Fund
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