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Home › Banks ›
Bank
Norges BankNorway

On record

This profile is no longer actively maintained, with the information now possibly out of date
Last update: 2024-02-08 00:00:00
Norges Bank head office in Oslo. Photo: User:Mahlum via Wikimedia Commons Public Domain

On record

This profile is no longer actively maintained, with the information now possibly out of date
Last update: 2024-02-08 00:00:00
About
Website http://www.norges-bank.no
Headquarters
Bankplassen 2
0151 Oslo
Norway
CEO/chair Ida Wolden Bache
Governor and Chair of the Executive Board
Supervisor
Ownership

Norges Bank is owned by the Norwegian state.

Norges Bank, established in 1816, is the central bank of Norway. The bank does not offer any banking services to the general public. Its mandate is to promote economic stability in Norway. Norges Bank has executive and advisory responsibilities in the area of monetary policy and is responsible for promoting robust and efficient payment systems and financial markets. Norges Bank, via its subsidiary Norges Bank Investment Management, manages Norway's foreign exchange reserves and the Government Pension Fund Global, also known as the Oil Fund, which was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. This is the largest sovereign wealth fund in the world.

Sustainability
Commitments
Policies
Voluntary standards

Norges Bank's most important sustainability commitments can be found at the website sections listed below.

Links

Responsible investment

2023-12-18 00:00:00

Observation and exclusion of companies

As of Dec 18 2023
Bank policy
2023-12-18 00:00:00 | Norges Bank Investment Management
2023-11-23 00:00:00

Human rights Expectations of companies

Bank policy
2023-11-23 00:00:00 | Norges Bank
2022-09-05 00:00:00

Guidelines for Observation and Exclusion of companies from the Government Pension Fund Global (GPFG)

Bank policy
2022-09-05 00:00:00 | Norges Bank
2021-09-02 00:00:00

Exclusion of companies Elco, Ashtrom Group, Electra and Oil & Natural Gas Corp.

Exclusion due to unacceptable risk that the companies contribute to systematic violations of individuals’ rights in situations of war or conflict
Bank policy
2021-09-02 00:00:00 | Norges Bank Investment Management
2020-04-16 00:00:00

Climate change - expectations of companies

Bank policy
2020-04-16 00:00:00 | Norges Bank Investment Management
2020-04-16 00:00:00

Human rights policy

Date listed represents date as accessed on website
Bank policy
2020-04-16 00:00:00 | Norges Bank Investment Management
2020-03-31 00:00:00

Water management - expectations of companies

Bank policy
2020-03-31 00:00:00 | Norges Bank Investment Management
2020-01-29 00:00:00

Children's rights - expectations of companies

Bank policy
2020-01-29 00:00:00 | Norges Bank Investment Management
2020-01-29 00:00:00

Tax transparancy - expectations of companies

Bank policy
2020-01-29 00:00:00 | Norges Bank Investment Management
2020-01-29 00:00:00

Anti-corruption - expectations of companies

Bank policy
2020-01-29 00:00:00 | Norges Bank Investment Management
2020-01-29 00:00:00

Ocean sustainability - expectations of companies

Bank policy
2020-01-29 00:00:00 | Norges Bank Investment Management
2019-01-03 00:00:00

Divestments policy

Bank policy
2019-01-03 00:00:00 | Norges Bank Investment Management
Norges Bank has committed itself to the following voluntary standards:
Extractive Industries Transparency InitiativeTags: oil and gas | mining and processing | transparency
Principles for Responsible Investment (PRI)Tags: corporate social responsibility | sustainable development | United Nations
Taskforce on Nature-related Financial Disclosures (TNFD)Tags: corporate social responsibility | finance
United Nations Global CompactTags: United Nations | human rights
Dodgy Deals

Norges Bank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Norges Bank's link to these deals.

Projects / Companies
Finance type
Year
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big European financial institutions invest heavily but turn a blind eye to human rights abuses in Qatar

2022-11-07 | Fair Finance International
BankTrack news BankTrack blog Partner news Partner blog

Norges Bank has decided to exclude four companies from the Government Pension Fund Global

Exclusion of companies Elco, Ashtrom Group, Electra and Oil & Natural Gas Corp. due to unacceptable risk that the companies contribute to systematic violations of individuals’ rights in situations of war or conflict
2021-09-02 | Norway | Norges Bank Investment Management
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Women Leaders warn global financial companies to stop support for tar sands oil

With key financial decision points looming on the Keystone XL, Line 3, and Trans Mountain pipelines, an open letter calls for policies respecting Indigenous rights and ruling out tar sands
2020-10-19 | First Peoples Worldwide, Giniw Collective, Honor the Earth, Indigenous Climate Action, Indigenous Environmental Network, Tiny House Warriors, Unist
BankTrack news BankTrack blog Partner news Partner blog

Norway to Divest €5 Billion from Coal Giants like Glencore and RWE

2019-06-11 | urgewald
Blog
BankTrack news BankTrack blog Partner news Partner blog

Fool’s Gold – €16bn for Europe’s biggest climate polluters

2019-05-21 | Berlin | Beyond Fossil Fuels
BankTrack news BankTrack blog Partner news Partner blog

Amnesty: The oil fund company supported army that ran ethnic cleansing

(article in Norwegian)
2018-06-14 | E24
BankTrack news BankTrack blog Partner news Partner blog

Norway’s Wealth Fund Votes to Defy Paris Climate Accord

2018-05-23 | Sputniknews.com
Blog
BankTrack news BankTrack blog Partner news Partner blog

NGOs Slam Expert Group’s Report on Coal and Oil Investments of the Norwegian Government Pension Fund

2014-12-04 | Oslo | urgewald
Blog
BankTrack news BankTrack blog Partner news Partner blog

NGOs release Damning Report on Norwegian Government Pension Fund’s Coal Investments

2014-11-25 | Oslo | urgewald
BankTrack news BankTrack blog Partner news Partner blog

RPT-Norway's opposition wants $800 bln wealth fund banned from coal

2013-11-06 | Reuters
Resources
Documents
Links
2024-05-14 00:00:00

Annual report 2023

Annual report
2024-05-14 00:00:00 | Norges Bank
2024-02-28 00:00:00

Finance for War. Finance for Peace

How values-based banks foster peace in a world of increasing conflict
Other document
2024-02-28 00:00:00 | Banca Etica Group and the Global Alliance for Banking on Values (GABV)
2023-12-18 00:00:00

Observation and exclusion of companies

As of Dec 18 2023
Bank policy
2023-12-18 00:00:00 | Norges Bank Investment Management
2023-11-23 00:00:00

Human rights Expectations of companies

Bank policy
2023-11-23 00:00:00 | Norges Bank
2023-06-12 00:00:00

Annual report 2022

Annual report
2023-06-12 00:00:00 | Norges Bank
2022-09-05 00:00:00

Guidelines for Observation and Exclusion of companies from the Government Pension Fund Global (GPFG)

Bank policy
2022-09-05 00:00:00 | Norges Bank
2022-06-06 00:00:00

Annual report 2021

Annual report
2022-06-06 00:00:00 | Norges Bank
2021-09-02 00:00:00

Exclusion of companies Elco, Ashtrom Group, Electra and Oil & Natural Gas Corp.

Exclusion due to unacceptable risk that the companies contribute to systematic violations of individuals’ rights in situations of war or conflict
Bank policy
2021-09-02 00:00:00 | Norges Bank Investment Management
2021-08-24 00:00:00

Investing in troubled waters

The material risks of fish mortality and the use of wild-caught fish in feed for the aquaculture sector
NGO document
2021-08-24 00:00:00 | Feedback, Changing Markets Foundation, CFFA, and WSRW
2021-04-08 00:00:00

Annual report 2020

Annual report
2021-04-08 00:00:00 | Norges Bank
2020-04-16 00:00:00

Annual report 2019

Annual report
2020-04-16 00:00:00 | Norges Bank
2020-04-16 00:00:00

Climate change - expectations of companies

Bank policy
2020-04-16 00:00:00 | Norges Bank Investment Management
2020-04-16 00:00:00

Human rights policy

Date listed represents date as accessed on website
Bank policy
2020-04-16 00:00:00 | Norges Bank Investment Management
2020-03-31 00:00:00

Water management - expectations of companies

Bank policy
2020-03-31 00:00:00 | Norges Bank Investment Management
2020-01-29 00:00:00

Children's rights - expectations of companies

Bank policy
2020-01-29 00:00:00 | Norges Bank Investment Management
2020-01-29 00:00:00

Tax transparancy - expectations of companies

Bank policy
2020-01-29 00:00:00 | Norges Bank Investment Management
2020-01-29 00:00:00

Anti-corruption - expectations of companies

Bank policy
2020-01-29 00:00:00 | Norges Bank Investment Management
2020-01-29 00:00:00

Ocean sustainability - expectations of companies

Bank policy
2020-01-29 00:00:00 | Norges Bank Investment Management
2019-04-30 00:00:00

Annual report 2018

Annual report
2019-04-30 00:00:00 | Norges Bank
2019-04-30 00:00:00

Responsible investment 2018

Other bank document
2019-04-30 00:00:00 | Norges Bank Investment Management
2019-01-03 00:00:00

Divestments policy

Bank policy
2019-01-03 00:00:00 | Norges Bank Investment Management
2018-04-01 00:00:00

Annual report 2017

Annual report
2018-04-01 00:00:00 | Norges Bank
2018-03-31 00:00:00

Responsible investment Government pension fund global 2017

Other bank document
2018-03-31 00:00:00 | Norges Bank Investment Management
2015-04-08 00:00:00

Annual Report 2014

Annual report
2015-04-08 00:00:00 | Norges Bank
2014-01-01 00:00:00

Annual Report 2013

Annual report
2014-01-01 00:00:00 | Norges Bank

Norges Bank Investment Management website

Accountability

This page evaluates Norges Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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Good Moves

Good moves

Year:

2021

Norges Bank has decided to exclude four companies from the Government Pension Fund Global

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