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Article

21 Aug 2013

Author:
Ministry of Finance (Norway)

Weapons producers remain excluded from the Government (Norway)

The American compan[ies] Alliant Techsystems...and...Lockheed Martin...were excluded from the [govt. pension] Fund in 2005 due to their production of cluster munitions...[T]he Council on Ethics stated that the companies no longer produce cluster munitions...[but] has...recommended that the companies should continue to be excluded from the GPFG because they produce key components for use in nuclear weapons. The guidelines for the observation and exclusion of companies from the Fund’s investment universe provides that the assets in the fund shall not be invested in companies that produce weapons that violate fundamental humanitarian principles through their normal use, including cluster munitions and nuclear weapons...The Ministry of Finance has decided to follow the recommendation of the Council on Ethics.