Searches and Hires

Norway’s sovereign wealth fund looking for help monitoring companies meeting ethical guidelines

The Council on Ethics for the Government Pension Fund Global, Oslo, seeks a firm to help monitor companies that might operate counter to the sovereign wealth fund's ethical guidelines.

The 8 trillion Norwegian kroner ($1 trillion) fund holds equities and fixed-income securities issued by about 9,500 companies, according to a notice on European procurement website Tenders Electronic Daily.

The search is divided into two, four-year contracts.

The first contract is for a firm to provide access to a database containing information on allegations toward the companies the sovereign wealth fund invests in. The second contract will expect the provider to screen whether these companies' products are in line with the fund's guidelines.

The current provider is RepRisk. A spokesman at the Council on Ethics was not available by press time to provide further details on the search and if the firm can rebid.

Proposals are due by Oct. 11. Further details are available on the TED notice.