This week’s TIME had a piece on Norway’s Government Pension Fund-Global, Norway’s sovereign trust fund. Profits from their oil and gas resources are channeled into it and invested.
Highlights:
- Assets of USD 382 billion.
- Owns 1% of the entire European stock market
- Scored 100% in governance, accountability, and transparency in a study by the Peterson Institute. Singapore’s Investment Corp averaged 40% (Petronas ranked dead last in a 2006 Spanish study of oil companies)
- Pledges to press firms it invests in to improve protection of human rights.
- Dumped stakes in Boeing and British BAE because they manufactured nuclear weapons.
- Voted in a shareholder push for Exxon-Mobil to adopt emission-reduction goals.
Norway has never sent a man to the moon, they never had the tallest building in the world, and they don’t have a national car, but certainly Norge kan!
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norway has the best managed economy in the world and they are one of the top countries that drew good foreign investments