Norway Wealth Fund Watchdog Will Track Crypto Companies in 2025
Key Points:
- Norway’s $1.8 trillion sovereign wealth fund will review ethical practices in the shoe, cryptocurrency, and gambling industries in 2025.
- The Norway wealth fund watchdog will assess companies’ working conditions and environmental practices.
The $1.8 trillion sovereign wealth fund of Norway, the biggest in the world, said it would scrutinize 2025 for ethical performance in three industries: making shoes, cryptocurrency, and gambling.
Read more: Norway Should Quickly Promote Crypto Law: Central Bank Report
Norway Wealth Fund Watchdog to Review Ethical Practices in Key Industries
The periodic reviews, conducted by the fund’s supervisory Council on Ethics, could result in divestments if those companies are found to be in breach of the Norwegian parliament’s set ethical guidelines.
The fund is a powerhouse of market impact, owning 1.5% of the world’s listed shares in 8,700 companies. The Norway wealth fund watchdog assesses companies it invests in for adherence to standards that include workers’ rights and environmental practices. Those failing to meet these minimum requirements risk exclusion from the fund or being placed on a public watch list.
In a document filed with Norway’s finance ministry on Oct. 10, the council said it would investigate labour conditions at several shoe producers.
“Companies have a direct responsibility for working conditions within their own operations and gross, systematic breaches of workers’ rights can lead to exclusions from the fund,” the Norway wealth fund watchdog stated.
The document, seen by Reuters, did not identify any companies and said it could not prejudge the outcome of investigations.
Norway Plans Novel Regulations for Crypto Mining
Meanwhile, Norway is considering a law to regulate cryptocurrency mining operations on its soil. Under a proposed set of regulations, data centres that mine cryptocurrencies would need to declare their ownership and list the digital services provided.
If approved, Norway would be the first European country to implement comprehensive regulations on data centres, focusing on sustainable energy use and environmental accountability.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Norway Wealth Fund Watchdog Will Track Crypto Companies in 2025
Key Points:
- Norway’s $1.8 trillion sovereign wealth fund will review ethical practices in the shoe, cryptocurrency, and gambling industries in 2025.
- The Norway wealth fund watchdog will assess companies’ working conditions and environmental practices.
The $1.8 trillion sovereign wealth fund of Norway, the biggest in the world, said it would scrutinize 2025 for ethical performance in three industries: making shoes, cryptocurrency, and gambling.
Read more: Norway Should Quickly Promote Crypto Law: Central Bank Report
Norway Wealth Fund Watchdog to Review Ethical Practices in Key Industries
The periodic reviews, conducted by the fund’s supervisory Council on Ethics, could result in divestments if those companies are found to be in breach of the Norwegian parliament’s set ethical guidelines.
The fund is a powerhouse of market impact, owning 1.5% of the world’s listed shares in 8,700 companies. The Norway wealth fund watchdog assesses companies it invests in for adherence to standards that include workers’ rights and environmental practices. Those failing to meet these minimum requirements risk exclusion from the fund or being placed on a public watch list.
In a document filed with Norway’s finance ministry on Oct. 10, the council said it would investigate labour conditions at several shoe producers.
“Companies have a direct responsibility for working conditions within their own operations and gross, systematic breaches of workers’ rights can lead to exclusions from the fund,” the Norway wealth fund watchdog stated.
The document, seen by Reuters, did not identify any companies and said it could not prejudge the outcome of investigations.
Norway Plans Novel Regulations for Crypto Mining
Meanwhile, Norway is considering a law to regulate cryptocurrency mining operations on its soil. Under a proposed set of regulations, data centres that mine cryptocurrencies would need to declare their ownership and list the digital services provided.
If approved, Norway would be the first European country to implement comprehensive regulations on data centres, focusing on sustainable energy use and environmental accountability.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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