News

UNI Global Union has sent Gabrielle Fulton (Capital Strategies Analyst) to Norway this month to investigate the responsible investment and governance model of the Norwegian Sovereign Wealth Fund ‘Government Pension Fund-Global’. The aim is to produce a case study that focuses on the ‘labour’ perspective in the funds decision making processes. The ‘Global’ fund was selected for its unique model of governance which includes a council of ethics. It is also well known for its high level of transparency of investment. UNI is looking for a best practice ‘Labour model’ of investment to promote to other sovereign wealth funds.



UNI met with members of the Ministry of Finance, a representative of the Council of Ethics, local trade unions and the Norwegian Confederation of Trade Unions (LO). The research is looking at asset allocation and policies particularly with regard to private equity. Labour interaction and future possibilities for ethical investment will also be covered in the study.



This initiative by UNI comes at a time when the Norwegian government is reviewing the Ethical Guidelines for the fund. The council was established in 2004 and submissions are now open for reviewing the guidelines for the first time and the Norwegian Confederation of Trade Unions (LO) is currently elaborating its submission.