• According to the media outlet, Reuters, the fund of Norway has not included 189 companies based on ethical grounds.

  • The Council on Ethics will also review companies who have been accused of violating human rights in the occupied West Bank. 

  • The Council on Ethics will also be responsible for probing crypto as well as gambling companies keeping the high money laundering risks in mind. 

The ethics overseer of the Sovereign Wealth Fund of Norway is said to initiate an investigation in 2025 into the fund’s portfolio of companies related to the crypto sector for probable ethical breaches. 

If the ethical breaches are found true in any case of any platform, the fund may choose to dispose of these bodies. On December 2, a prominent media outlet, Reuters reported that the Council on Ethics for the fund will be responsible for reviewing the portfolio of companies. If any firm is found to be lacking ethical compliance, the council will immediately divest it or add it to a public watch list. 

The companies under investigation 

The Government Pension Fund Global of Norway is the largest sovereign wealth fund of the world which manages assets whose worth is estimated at $1.8 trillion. This wealth fund was set up with a view of managing excess income coming from the oil and gas industry. It was targeted to ensure sure financial stability of the country for upcoming generations through various global investments. 

On October 10, the media source reviewed a document from the ethics council sent to the finance ministry and reported that the Council on Ethics will be responsible for probing crypto as well as gambling companies keeping the high money laundering risks in mind. 

The fund has also boosted the crypto investments by buying a stake of 0.83% in Coinbase whose worth is about $453 million. It has reportedly held shares in Marathon Strategy, Block as well as Marathon Digital. 

The Council on Ethics will also review companies who have been accused of violating human rights in the occupied West Bank. Along with this, other companies including shoemakers are also on its radar. 

Which companies are not included? 

According to the media outlet, Reuters, the fund of Norway has not included 189 companies based on ethical grounds. Some of the companies are Airbus and Boeing, which are responsible for producing nuclear weapons and coal-related activities conducting companies, Glencore and RWE. 

The decision to invest in the fund is also based on other ethical criteria such as human rights abuses, environmental damages, and so on. The main target is to extend risk across different asset classes to make sure of stable and long-term returns. 

Despite cryptocurrency being a risky stake, it also offers a variance in profit because of its low correlation with traditional financial assets.