Norway's sovereign wealth fund, the world's largest with assets of more than €2 trillion, could once again invest in nuclear weapons makers under a government-appointed commission's proposal published Thursday. The fund currently excludes 14 companies, including Airbus, BAE Systems, Boeing, Lockheed Martin and Safran, but the proposal would allow investment in arms makers based in NPT-recognised nuclear-weapon states that are NATO allies, such as British, French and American firms. The 434-page report, chaired by former central bank governor Svein Gjedrem, was submitted to Finance Minister Jens Stoltenberg, who noted the paradox that the fund cannot invest in companies crucial to Norway's security. The Council on Ethics would lose its power to directly recommend exclusions, a power already suspended pending the review. Public consultation runs until 15 January before the government presents its assessment to parliament next spring, and some left-leaning parties have already criticised the proposal.
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