Searches and Hires

Norway’s Government Pension Fund Global taps 2 firms to monitor companies

The Council on Ethics for the Government Pension Fund Global, Oslo, hired two firms to help monitor companies that might conflict with the sovereign wealth fund's ethical guidelines.

A notice filed with European procurement website Tenders Electronic Daily said the Council on Ethics, which evaluates whether investments are in line with the 8.52 trillion Norweigan kroner ($1.06 trillion) fund's ethical guidelines, rehired RepRisk and also hired ISS-Ethix for two, four-year contracts.

Reprisk was hired to provide access to a database with information on allegations toward companies the fund invests in. The notice said the database will be used to find information on and make internal watchlists regarding firms that may be involved in such activities. The council requires a bimonthly report on such companies.

ISS-Ethix was hired to screen whether company products are in line with the fund's guidelines. The council requires a quarterly report on these companies.

A spokesman for the council was not immediately available to comment.