Norway's government committee calls on the sovereign wealth fund to relax its ban on nuclear weapons investments and avoid intervening in diplomatic issues.
A committee appointed by the Norwegian government released a report on Thursday, calling for the country's nearly $2.3 trillion sovereign wealth fund to relax its ethics-based investment restrictions, including those on nuclear weapons and investments related to Israel's actions in Gaza. The committee recommended allowing the fund to invest in companies producing nuclear weapons and that decisions involving "the actions of another state" should be left to Norwegian diplomatic channels. This move stems in part from last year's controversy when the fund divested from the American company Caterpillar due to Israel's actions in Gaza, as well as Norway's reliance on NATO's nuclear deterrence and the deteriorating security environment.
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