A quarter of the Petroleum Fund's investments are still exempt from ethical guidelines. It is now high time that such are also introduced for the Petroleum Fund's investments in government bonds. In an interview in Ny Tid 18.02.2016, Hans Andreas Limi (Frp) is skeptical about this, and believes that the Petroleum Fund must not become a foreign policy tool.
The article states that Norway lends money to countries that both participate in a controversial war against Yemen and have a poor human rights situation at home. In a comment on this, Limi states that the Oil Fund should not be used as a foreign policy instrument, but that the most important thing is to follow international rules of the game.
SLUG fully agrees that the Oil Fund should not be used as a foreign policy instrument, and wishes to counter Limi's skepticism.
Although we demand an ethical framework for investments in government bonds, this does not mean an oil fund that is to be managed by Norway's current foreign policy agenda. On the other hand, there is broad agreement in the Storting that the fund's investments must follow certain minimum standards. The Petroleum Fund today has a clear ethical profile, and is increasingly focusing on the prevention of human rights violations and environmental damage when investing. . .