Norway’s $1.8 trillion sovereign wealth fund is at the center of a debate over whether to lift a ban on investing in certain defense companies. The ban, in place since the early 2000s, prohibits investment in firms that produce critical components for nuclear weapons and other controversial products.
The country’s center-right Conservative party is pushing for a change in the ethical guidelines to allow investment in companies vital to Western security, citing geopolitical risks and the need to support the defense industry. However, others argue that the ban should remain in place to maintain the fund’s environmental, social, and governance standards.