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Norwegian Fund to Invest in Defense Firms
Reports indicate that the Norwegian sovereign wealth fund, the largest in the world with a value of $2.3 trillion, plans to reconsider its investment rules in Western defense companies after years of excluding them due to ethical standards. The proposed amendments will allow investment in companies manufacturing nuclear weapons, provided that these companies are registered in countries that comply with the Nuclear Non-Proliferation Treaty and are allies of Norway. These changes come amid escalating geopolitical tensions and the decline of the liberal international order, opening the door for increased investments in defense firms despite concerns about political and international repercussions. The amendment is expected to be presented to the Norwegian Parliament for approval in 2027, with current rules remaining in place until then.
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