Norway's Wealth Fund Faces Ethical Dilemma Amid Defence Investment Debate

Norway's $1.8 trillion wealth fund, the largest in the world, is currently embroiled in a political debate over its investment policies concerning major defence companies. The opposition's push to change the existing rules, which prohibit investments in companies associated with nuclear weapons, is rapidly losing momentum among lawmakers.

The Conservatives and the Progress Party have been leading the charge for change, citing the increasing military investments by European nations as a reason for revisiting the guidelines. They argue that excluding key defence companies like Boeing and Airbus is no longer tenable in the current global climate.

However, the finance ministry, led by former NATO Secretary General Jens Stoltenberg, along with other political entities, remains unconvinced. With calls for maintaining the fund's ethical standards, the debate underscores a critical junction between ethical investing and national security interests.

(With inputs from agencies.)