Norges Bank Investment Management is expected to publish its quarterly report on company exclusions soon. This organization manages Norway's Government Pension Fund Global, often called the oil fund. The fund's total value is approximately 17 trillion Norwegian kroner. The upcoming report will detail which companies are being excluded based on ethical guidelines. The decisions follow specific recommendations from the fund's independent Council on Ethics. The Council on Ethics typically publishes its quarterly recommendations in late March. The list for the first quarter of 2026 is now due for release. Norges Bank Investment Management then makes its final exclusion decisions based on the council's advice.
Previous company exclusions from the massive fund have been based on strict criteria related to severe environmental damage and serious human rights violations. The fund has also excluded companies involved in the production of certain weapons. The ethical guidelines are designed to ensure the fund does not invest in companies that cause unacceptable harm. This process is a regular part of how the world's largest sovereign wealth fund operates, reflecting a commitment to responsible investment practices on a global scale.
The upcoming announcement will show which companies the fund's managers have decided to exclude from its portfolio this quarter. The fund's ethical exclusions are closely watched by investors and advocacy groups worldwide.