{"id":21149,"date":"2021-11-04T18:19:56","date_gmt":"2021-11-04T18:19:56","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2021\/11\/04\/norway-fund-divests-from-companies-tied-to-weapon-production\/"},"modified":"2026-08-07T21:56:38","modified_gmt":"2026-08-07T21:56:38","slug":"norway-fund-divests-from-companies-tied-to-weapon-production","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/global\/2021\/11\/04\/norway-fund-divests-from-companies-tied-to-weapon-production\/","title":{"rendered":"Norway fund divests from companies tied to weapon production"},"content":{"rendered":"\n

COPENHAGEN, Denmark (AP) \u2014 Norway\u2019s largest pension fund said Thursday that it has divested from 14 companies involved in producing nuclear missiles and other weapons.<\/p>\n\n\n\n

Oslo-based KLP, which manages more than 300 billion kroner ($35.4 billion), said it made the decision after reviewing companies<\/a> that may violate its guidelines on weapons.<\/p>\n\n\n\n

\u201cThose excluded are mainly companies that directly or indirectly contribute to the continuing existence of nuclear weapons,\u201d said Kiran Aziz, KLP\u2019s head of responsible investments. \u201cCompanies do not need to produce the actual weapons components themselves. It is sufficient that they contribute in other ways.\u201d<\/p>\n\n\n\n

The fund said in a statement that the weapons \u201cby their nature violate fundamental humanitarian principles.\u201d<\/p>\n\n\n\n

As of this month, KLP won\u2019t do business with companies including Britain\u2019s Rolls Royce Holdings PLC, Massachusetts-based Raytheon Technologies Corp. and France\u2019s Thales.<\/p>\n\n\n\n

A U.N. treaty on eliminating nuclear weapons took effect in January<\/a>, so investors like KLP must apply more stringent standards to companies that contribute to making those weapons, Aziz said.<\/p>\n\n\n\n

KLP said Rolls Royce produces components for a number of vessels capable of launching nuclear weapons, Raytheon develops missiles that can carry nuclear warheads, and Thales develops and produces components for nuclear missiles.<\/p>\n\n\n\t