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The Ethics of Investment

In: Norway’s Sovereign Wealth Fund

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  • Ole Bjørn Røste

    (Norwegian University of Science and Technology)

Abstract

Investment like other socially important undertakings has an important ethical dimension. The wealth transfer to future generations discussed in earlier chapters is a highly important example. This chapter, however, discusses how it is important for investors to act consciously in relation to the diverse ethical aspects of the activities they finance. Government-owned SWFs must satisfy their political constituencies. A piece of good news is that Norwegians like measures that support important international governance norms. The Fund does, e.g., stay away from the production of tobacco and some types of arms, as well as poor labor standards and child labor. Activities implying high risks of environmental degradation, and serious crime including corruption, are also avoided. Restrictive measures on numerous items can be extensive when combined. This reflects that norms related to Socially Responsible Investment (SRI) have gained significance in investment, including for the GPF-G.

Suggested Citation

  • Ole Bjørn Røste, 2021. "The Ethics of Investment," Natural Resource Management and Policy, in: Norway’s Sovereign Wealth Fund, chapter 0, pages 145-162, Springer.
    • Handle: RePEc:spr:nrmchp:978-3-030-74107-5_5
    DOI: 10.1007/978-3-030-74107-5_5
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