Sovereign wealth funds as a new instrument of climate protection policy? A case study of Norway as a pioneer of ethical guidelines for investment policy

Danyel Reiche

Energy, 2010, vol. 35, issue 9, 3569-3577

Abstract: In 1990 a sovereign wealth fund was founded in Norway in which the country invests surpluses from oil and gas industry sales. The fund is designed to secure the state’s ability to act in a post-petroleum era. At the end of the 1990’s the voice of Norwegian civil society insisted that the sovereign wealth fund should not only ensure intergenerational justice, but should also contribute to the implementation of values and norms of the present country. At the end of 2004 the parliament finally agreed upon ethical regulations for the investment of the sovereign wealth fund. Now the second largest sovereign wealth fund in the world only invests in businesses that adhere to those ethical regulations. In the present paper, I seek to illustrate the emergence and outcomes of this new development in the Norwegian sovereign wealth fund.

Keywords: Norway; Sovereign wealth funds; Ethical investment; Climate protection policy; Diffusion of policy innovations; Case study (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544210002379
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:35:y:2010:i:9:p:3569-3577

DOI: 10.1016/j.energy.2010.04.030

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().