Governance structure
The fund’s governance structure builds on a clear delegation of duties and effective systems for control and supervision.
Stortinget (Norwegian parliament)
Has laid down the formal framework for the fund in the Government Pension Fund Act.
Ministry of Finance
Has the overall responsibility for the fund's management and has issued guidelines for its management.
The Ministry of Finance has appointed an independent Council on Ethics to assess companies against the ethical guidelines for the fund and to make recommendations to Norges Bank on whether companies should be excluded from the fund or placed under observation.
Norges Bank Executive Board
Norges Bank has been tasked with the management of the fund, and its Executive Board has delegated the operational management of the fund to Norges Bank Investment Management. Supplementary governing documents are laid down for the fund's management.
CEO of Norges Bank Investment Management
Has the overall responsibility for implementing requirements defined by the Excecutive Board. The CEO sets policies and delegates mandates and job descriptions to the leader group of Norges Bank Investment Management.
Leader group at Norges Bank Investment Management
Sets guidelines and delegates work tasks and investment mandates within their delegated areas of responsibility.