The Norwegian sovereign wealth fund plans to review ethical standards in the shoe, cryptocurrency, and gambling industries in 2025.
Norwegian Fund to Review Ethical Practices
According to the Council on Ethics, periodic reviews could lead to divestment from companies not meeting the required standards. The fund, owning about 1.5% of the world's equities, monitors companies for compliance with workers' rights and environmental practices.
Norway Plans Crypto Mining Regulations
Norway is considering a law to regulate cryptocurrency mining operations. Under anticipated regulations, data centers must declare ownership and list provided digital services, making Norway one of the first countries in Europe to implement comprehensive data center regulations.
Council on Ethics Statement
The document submitted to Norway's finance ministry highlights labor condition checks at shoe manufacturers. "Companies are responsible for working conditions in their operations, and serious breaches of workers' rights can lead to exclusion from the fund," stated the Council on Ethics.
The ethical reviews and proposed new laws in the crypto industry could significantly impact companies working with Norway's sovereign wealth fund.
