Norway may allow sovereign wealth fund to invest in nuclear weapons makers
A government‑appointed commission chaired by former central bank governor Svein Gjedrem has recommended that Norway’s sovereign wealth fund be permitted to invest in companies that produce nuclear weapons in NPT‑recognised states that are NATO allies. The fund, worth more than €2 trillion and currently excluding 14 firms such as Airbus, BAE Systems, Boeing, Lockheed Martin and Safran, would be able to re‑include several British, French and American defence manufacturers. The proposal will be subject to a public consultation ending 15 January before the government presents its assessment to parliament next spring.
Why it matters
If adopted, the rule change could increase the fund’s exposure to major Western defence groups and alter the composition of its holdings, affecting investors in the listed defence companies. The fund’s size – over €2 trillion and about 1.5 % of global listed equity – means any inclusion could provide a sizable source of capital for the affected firms.
Key facts
- 1The commission was chaired by former central bank governor Svein Gjedrem. thelocal.no
- 2The sovereign wealth fund holds assets of more than €2 trillion. finance.yahoo.com
- 3Under current ethical guidelines the fund excludes 14 companies that develop or make nuclear weapons, including Airbus, BAE Systems, Boeing, Lockheed Martin and Safran. thelocal.no
- 4The proposal would allow investment in nuclear arms makers based in a nuclear‑weapon state recognised under the NPT and that is a NATO ally of Norway. finance.yahoo.com
- 5The report contains 434 pages and will be open for public consultation until 15 January. finance.yahoo.com
- 6The fund invests in more than 7,000 companies and owns around 1.5 % of the world’s listed shares. thelocal.no
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.