Download or read book Norway Oil Fund How Norway s Oil Fund Investment Policy Can Be Ethical written by Tomiwa Ogunrinde and published by GRIN Verlag. This book was released on 2021-07-27 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2020 in the subject Business economics - Business Ethics, Corporate Ethics, grade: A, University of Ibadan, language: English, abstract: Norway experienced an economic surpluses following improvement of its hydrocarbon resources during the 70s. This reality changed the fate of the country and they made plan for the future towards economic sustainability. This was the birth of the Norway Oil Fund also known as Government Pension Fund-Global (GPF-G). The Sovereign Wealth Fund exists as a drawn out monetary saving guaranteeing that Norway not simply the current age profit and appreciate from the nation oil riches. The Fund is $1tn and owns an average of 1.4 per cent of every listed company worldwide. The GPF-G was charged with making investment in areas that promote corporate governance, sustainable development in economic, social, and environmental terms. However, the GPF-G has come under domestic and international pressure over ethical violations in the manner in which the fund are said to have been invested in companies that promotes gambling, alcohol, forced labour, cluster bombs and nuclear weapons

Download or read book Norway s Sovereign Wealth Fund written by Asbjorn Osland and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Norway's Government Pension Oil Fund Global (the Oil Fund) is funded by the excess revenues generated by Norway's oil and gas sales and income from existing holdings in the Oil Fund. It had grown to USD 1 trillion in assets, making it the world's largest sovereign wealth fund. The Council on Ethics (2016) advised the Oil Fund on what types of companies should be excluded for ethical violations. This came at the behest of several NGOs, with the concurrence of Parliament. Energy companies that derived 30% or more of their energy from coal should not be part of the Oil Fund; so too mining companies that derived over 30% of their revenues from coal were excluded. The irony was that the Oil Fund was financed by the sale of fossil fuels outside of Norway, which produced enormous amounts of greenhouse gas (GHG) emissions. As Signe Andresen and Marit Vik discuss the environmental, ethical, and decision-making issues around the Oil Fund's investments and management, key questions are raised. Should Norway's Oil Fund, which is dependent on excess revenues generated by Norway's oil and gas sales, take a strong stance against coal? Who would benefit from this stance? Should the Oil Fund promote non-renewable sources of energy use? If so, should it work with companies that are making progress away from coal or simply cut them off and remove their stocks from the portfolio?

Download or read book The Norwegian Oil Fund A Principal Agent Analysis of Political Decisions written by Alexander Rühl and published by GRIN Verlag. This book was released on 2017-02-27 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2017 in the subject Politics - Topic: Globalization, Political Economics, University of applied sciences, Munich, language: English, abstract: This assignment investigates the decisions that were made by Norway's Finance Minister Siv Jensen and Prime Minister Erna Solberg in 2016 to withdraw money from the Government Pension Fund Global in order to compensate for a governmental budget deficit. The starting point will be a brief overview over Norway’s economic situation and a look into the structure and the investment strategy of the oil fund. The analysis of the decision to plunge into the fund is based on the Principal-Agent Theory and the Consumption-Saving Decision and therefore these theories are explained further on. The political decision is then analysed based on these theories, and outcomes of alternative decisions are depicted.

Download or read book Norway s Sovereign Wealth Fund written by Ole Bjørn Røste and published by Springer Nature. This book was released on 2021-07-19 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book elaborates on how Norway has managed to convert a large fraction of its endowment of hydrocarbons below the seabed of Norwegian waters into financial wealth, invested in the world’s capital markets. Further, it explains how this wealth is managed. Under the current guidelines, only the assessed return on investment may be allotted to public budgets. This ensures that the wealth will benefit both current and future generations. The capital is gathered in the Sovereign Wealth Fund – or State Pension Fund Global (SPF-G) –, which is intended to maximize capital value without exceeding acceptable risks. The book offers new insights into the history and management of the fund, examines its successes,and discusses future challenges. Given its scope, it appeals to scholars of economics, finance and political science, and to anyone interested in the sustainable investment of natural resource-based revenues.

Download or read book Using the Norwegian Sovereign Wealth Fund s Ethical Guidelines as a Model for Investors written by Anita Margrethe Halvorssen and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Norwegian Sovereign Wealth Fund, the Government Pension Fund - Global (GPFG), formally established in 1990, is the largest in Europe and second largest in the world, now valued at over $500 billion. It was created to support the long-term management of petroleum revenues and to facilitate government savings necessary to meet the rapid rise in public pension expenditures in the coming decades with an ageing population. Since the GPFG is owned ultimately by the Norwegian citizens and they cannot withdraw from investments as typical shareholders can, a set of Ethics Guidelines were adopted to legitimize the GPFG. Hence, the GPFG avoids investments in companies whose practices constitute an unacceptable risk because of grossly unethical activities. The Ethics Guidelines are based on the view that there is a link between sustainable economic development and sustainable social and environmental development. The idea is that the Fund, being a long-term investor, will benefit from companies respecting fundamental ethical norms based upon internationally recognized standards, such as the UN Compact and the OECD Guidelines for Multinational Enterprises. After explaining the workings of the GPFG and its Ethical Guidelines, this paper will argue that there is growing consensus that sustainable development is a legitimate concern for all investors, be they private or state-owned funds. Hence, using ethics guidelines such as the ones used by the GPFG should not be a reason for promoting special regulation of SWFs. Regulation to deal with geopolitical state interests or national security issues could be addressed in separate legislation against all types of owners, not singling out SWF. The author is a member of the project team of the Sustainable Companies project at the Faculty of Law, University of Oslo.

Download or read book Sovereign Wealth Funds Local Content Policies and CSR written by Eduardo G. Pereira and published by Springer Nature. This book was released on 2021-01-25 with total page 653 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores three particular strategies in the extractives sector for creating shared wealth, increased labour opportunities and positive social, environmental and economic outcomes from corporate projects, namely: state wealth funds (SWF), local content policies (LCP) and corporate social responsibility (CSR) practices. Collectively, the chapters explore the associated experiences and challenges in different parts of the world with the view to inform equitable and sustainable development for the communities living adjacent to extractives sites and the wider society and environment. Examples of LCPs, SWFs and CSR practices from 12 jurisdictions with diverse experiences offer usefull insights. The book illuminates challenges and opportunities for sustainable development outcomes of the extractives sector. It reflects the need to take on board the lessons of these global experiences in order to improve outcomes for poverty reduction, inequality reduction and sustainable development.

Download or read book Oil to Cash written by Todd Moss and published by CGD Books. This book was released on 2015-06-10 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.

Download or read book The Personal Memoirs of Joffre written by Joseph Jacques Césaire Joffre and published by New York ; London : Harper. This book was released on 1932 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The New Frontiers of Sovereign Investment written by Malan Rietveld and published by Columbia University Press. This book was released on 2017-05-16 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign wealth funds (SWFs) can be effective tools for national resources revenue management. These state-owned investments, funded by commodity exports, foreign exchange reserves, or other national assets, are adaptable to the challenges posed by financial shocks and have been successfully employed in an increasing number of countries. The number of SWFs continues to grow, with the largest funds managing trillions of dollars in assets among them. However, given the significant variations among SWFs, it can be difficult to compare funds that differ in size, scope, and mandate. This book provides a sorely needed practical look at how these funds work—and how they should work. The New Frontiers of Sovereign Investment combines the insights and experience of academic economists and practitioners from several funds to survey a diverse financial landscape and establish the challenging topical questions facing a broad range of SWFs today: Should they serve both economic development and financial returns, and how? Will responsible investment enhance long-term returns? How can fiscal rules for SWFs be improved to meet emerging economic challenges? The book considers these questions as they apply to both long-established and newer SWFs. Featuring contributions from sovereign wealth practitioners from Alberta's AIMCo, the Nigerian Sovereign Investment Authority, and the New Zealand Superannuation Fund, as well as analysis by scholars at the forefront of sovereign investment, this volume provides timely and much-needed information on these rapidly evolving institutions.

Download or read book Citizens Wealth written by Angela Cummine and published by Yale University Press. This book was released on 2016-01-01 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: A wide-ranging analysis of a powerful but controversial new economic tool that has rapidly eclipsed the size of the hedge fund market In 2006, Chile teemed with protesters after finance minister Andrés Velasco invested budget surpluses from the nation's historic copper boom in two Sovereign Wealth Funds. A year later, when prices plummeted and unemployment soared, Chile's government was able to stimulate recovery by drawing on the funds. State-owned investment vehicles that hold public funds in a wide range of assets, Sovereign Wealth Funds enable governments to access an unprecedented degree of wealth. Consequently, more countries are seeking to establish them. Looking at Chile, China, Australia, Singapore, and numerous other examples, including a comparative analysis of Britain and Norway's use of oil revenues, Angela Cummine tackles the key ethical questions surrounding their use, including: To whom does the wealth belong? How should the funds be managed, invested, and distributed? With sovereign funds--and media attention--continuing to grow, this is an invaluable look at a hotly debated economic issue.

Download or read book The Oxford Handbook of Sovereign Wealth Funds written by Douglas Cumming and published by Oxford University Press. This book was released on 2017 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign Wealth Funds have become increasingly powerful and influential investors. Their increasing role, and unusual character as both political and market actors, raise a number of issues with regard to finance, politics, regulation, and international business. This handbook draws together the growing but fragmented research on SWFs.

Download or read book Public Brainpower written by Indra Overland and published by Springer. This book was released on 2017-10-26 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses how civil society, public debate and freedom of speech affect the management of natural resources. Drawing on the work of Robert Dahl, Jürgen Habermas and Robert Putnam, the book introduces the concept of public brainpower. Good governance of natural resources requires fertile public debate – to conceive new institutions, to provide checks and balances on existing institutions and to ensure their continuous dynamic evolution as the needs of society change. The book explores the strengths and weaknesses of these ideas through case studies of 18 oil and gas-producing countries: Algeria, Angola, Azerbaijan, Canada, Colombia, Egypt, Iraq, Kazakhstan, Libya, the Netherlands, Nigeria, Norway, Qatar, Russia, Saudi Arabia, the UAE, the UK and Venezuela. The concluding chapter presents 10 tenets on how states can maximize their public brainpower, as well as a ranking of how well 33 resource-rich countries have succeeded in doing so. Four of the chapters – ‘Introduction’, ‘Norway’, ‘Kazakhstan’ and ‘Russia’ – are available under a CC BY 4.0 Open Access license at link.springer.com.

Download or read book A Guide to Sustainable Corporate Responsibility written by Caroline D. Ditlev-Simonsen and published by Springer Nature. This book was released on 2022 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses the challenges and opportunities faced by companies in an age that increasingly values sustainability and demands corporate responsibility. Beginning with the historical development of corporate responsibility, this book moves from academic theory to practical application. It points to ways in which companies can successfully manage their transition to a more responsible, sustainable way of doing business, common mistakes to avoid and how the UN Sustainable Development Goals are integral to any sustainability transformation. Practical cases illustrate key points. Drawing on thirty years of sustainability research and extensive corporate experience, the author provides tools such as a Step-by-Step strategic guide on integrating sustainability in collaboration with stakeholders including employees, customers, suppliers and investors. The book is particularly relevant for SMEs and companies operating in emerging markets. From a broader perspective, the value of externalities, full cost pricing, alternative economic theories and circular economy are also addressed.

Download or read book Research Handbook on Energy Law and Ethics written by Malik R. Dahlan and published by Edward Elgar Publishing. This book was released on 2022-11-22 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Research Handbook offers crucial ethical perspectives on navigating the increasingly complex and contested landscape of contemporary energy law. Taking an interdisciplinary approach, it brings together diverse scholarship and expertise from academia, international organizations, legal practice and the judiciary to address wide-ranging issues linking energy and law to ethical drivers such as wealth, peace and war, development, climate change, and use and abuse of natural resources.

Download or read book Nordic Economic Policy Review 2019 written by Calmfors, Lars and published by Nordic Council of Ministers. This book was released on 2019-05-13 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: The articles in the 2019 Nordic Economic Policy Review analyse how the Nordic countries best can contribute to international climate policy. The articles cover topics such as: How can the Nordics help raise the ambitions in the Paris Agreement? What is the effect of national policy on emissions regulated by the EU Emissions Trading System? Would it be cost-effective for the Nordic countries to pay for emission reductions elsewhere to a larger extent? What role should be played by subsidies to green technology? Should Norway put more emphasis on supply-side policies, that is, on limiting future extraction of oil and gas? The volume contains five papers with associated comments which were originally presented at a conference in Stockholm on 24 October 2018.

Download or read book Achieving Investment Excellence written by Kees Koedijk and published by John Wiley & Sons. This book was released on 2019-01-29 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Crucial methods, tactics and tools for successful pension fund management Achieving Investment Excellence offers trustees and asset managers a comprehensive handbook for improving the quality of their investments. With a stated goal of substantially and sustainably improving annual returns, this book clarifies and demystifies important concepts surrounding trustee duties and responsibilities, investment strategies, analysis, evaluation and much more. Low interest rates are making the high cost of future pension payouts fraught with tension, even as the time and knowledge required to manage these funds appropriately increases — it is no wonder that pensions are increasingly seen as a financial liability. Now more than ever, it is critical that trustees understand exactly what contributes to investment success — and what detracts from it. This book details the roles, the tools and the strategies that make pension funds pay off. Understand the role of pension funds and the fiduciary duty of trustees Learn the tools and kills you need to build profound and lasting investment excellence Analyse, diagnose and improve investment quality of funds using concrete tools and instruments Study illustrative examples that demonstrate critical implementation and execution advice Packed with expert insight, crucial tools and real-life examples, this book is an important resource for those tasked with governing these. Achieving Investment Excellence provides the expert insight, clear guidance and key wisdom you need to manage these funds successfully.

Download or read book Social Security and Pension Reform International Perspectives written by Marek Szczepański and published by W. E. Upjohn Institute. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is based largely on the 2012 conference of the European Network for Research on Supplementary Pensions (ENRSP), held at Poznan University of Technology, Poznan, Poland, on September 13-14, 2012"--Preface.