The Fund Itself

The Government Pension Fund of Norway is comprised of two entirely separate sovereign wealth funds owned by the Government of Norway.  The Government Pension Fund Global (GPFG), or Statens Pensjonsfond Utland (SPU), invests in the securities of international companies.  The Government Pension Fund Norway (GPFN) or Statens Pensjonsfond Norge (SPN), invests in the securities of Norwegian companies.

The capital resources of the Government Pension Fund arise from the one-time windfall of petroleum revenues, and their investment is intended to assure a pension for all Norwegian citizens now and in the future.  In the words of the Government Pension Fund’s own website:

“A sound long-term management of the Fund contributes to intergenerational equity, by allowing both current and future generations to benefit from the petroleum revenues.” [1]

However, in recent years that goal of intergenerational equity has come into direct conflict with what is currently considered the greatest intergenerational crime of all time, the failure of the current corporate dominated model of governance to prevent runaway climate change.  Norwegians have awakened to the possibility that many of the young beneficiaries of the Fund will not live to enjoy their benefits.  This has sparked a debate at all levels in Norway.

Over recent years the Fund has exhibited the growing awareness of this conflict and begun to divest from the most carbon intensive and environmentally destructive companies.  This was especially evident over the course of 2014.  We welcome this development and wish to capitalize on the momentum with the Divest Norway effort.

In March of 2015, the Stortinget (Norwegian Parliament) will debate the matter of divestment from fossil fuel and carbon intensive investments by the Fund.  Following upon that debate it will issue instructions to Norges Bank, which manages the Fund.  So now is the time to Add Your Voice to that debate.

[1] – The official Norwegian Government Pension Fund website.