Ethical Guidelines in Norwegian Political System Quiz
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Questions and Answers

When did the parliamentarians change their position on the proposal?

  • October 2002
  • 16 June 2004
  • Fall of 2004
  • 21 June 2002 (correct)

    • Who was heading the commission formed in October 2002 to integrate ethical concerns into the fund's operation?

  • Hans Peter Graver (correct)
  • Council on Ethics
  • Norges Bank
  • Ministry of Finance

    • What did the commission deliver two years later after its formation?

  • Turnkey ethical guidelines institutional structure (correct)
  • Recommendation for divestment
  • A financial report
  • A list of specified companies

    • Which entity evaluates whether the fund's investments comply with ethical guidelines?

    <p>Council on Ethics</p> Signup and view all the answers

    What action does the Council on Ethics take after thorough assessments of individual cases?

    <p>Recommends divestment</p> Signup and view all the answers

    Who decides on the exclusion of companies or placing companies on an observation list?

    <p>Norges Bank</p> Signup and view all the answers

    Which negative mechanism is used by the ethical guidelines to prevent companies from being included in the investment universe?

    <p>Negative screening based on a violation of human rights</p> Signup and view all the answers

    What is one of the ethical norms that could lead to divestment from a company according to the ethical guidelines?

    <p>Severe environmental degradation</p> Signup and view all the answers

    In what year did the positive selection program for green investments begin?

    <p>2010</p> Signup and view all the answers

    What argument supports the idea that unethical investments are contradictory to the goal of maintaining and increasing wealth for future generations?

    <p>The ethical obligation to future generations</p> Signup and view all the answers

    What trend in international fund management aligns with the Norwegian Sovereign Wealth Fund's emphasis on responsible investments?

    <p>Viewing financial investment as an ethical obligation</p> Signup and view all the answers

    Who invited NGOs and other stakeholders to give their recommendations on the ethical guidelines in 2008?

    <p>Finance Minister Kristin Halvorsen</p> Signup and view all the answers

    What was the purpose of the 2004 ethical guidelines enactment in Norway?

    <p>To relieve the political system of tension between financial returns and ethical considerations.</p> Signup and view all the answers

    What is a key feature of the ethical guidelines and the institutional structure in Norway?

    <p>They have relieved tension between opposing views.</p> Signup and view all the answers

    How have the fiscal rule and the ethical guidelines impacted the Norwegian political landscape?

    <p>They opened up conceptual possibilities and reduced tensions.</p> Signup and view all the answers

    Why is it important to maintain broad political and popular support for the management of the fund?

    <p>To ensure effective governance and ethical practices.</p> Signup and view all the answers

    What is the role of committed communities in providing input for the enhancement of the fund's ethical guidelines?

    <p>To offer valuable insights for strengthening the ethical guidelines.</p> Signup and view all the answers

    How have the innovative institutional solutions impacted the tension between opposing views in Norway?

    <p>Released tension and reduced conflicts.</p> Signup and view all the answers

    What was the main purpose of the central bank reform mentioned in the text?

    <p>To change the macro-economic regime for economic policy decisions</p> Signup and view all the answers

    Why were questions about ethical and environmental concerns raised regarding investments?

    <p>To balance risk, returns, and ethical considerations</p> Signup and view all the answers

    What innovations allowed for compromise in the decisions of 2001 and 2004?

    <p>Opening new conceptual and institutional spaces</p> Signup and view all the answers

    How did the decisions of 2001 and 2004 impact the status of the sovereign wealth fund?

    <p>Secured its status as a valued public institution</p> Signup and view all the answers

    What was the key focus of the ethical guidelines established in 2004?

    <p>Balancing ethical concerns with investment strategy</p> Signup and view all the answers

    How did the macroeconomic regime change affect economic policy decisions?

    <p>It enabled countercyclical spending in downturns</p> Signup and view all the answers

    What is one of the negative mechanisms employed by the ethical guidelines to prevent certain companies from being included in the investment universe?

    <p>Negative screening to exclude companies involved in manufacturing unethical weapons</p> Signup and view all the answers

    Which of the following is considered a reason for the idea that sound financial investment is an ethical obligation?

    <p>Maintaining and increasing the wealth for future generations</p> Signup and view all the answers

    In what year did the government initiate an evaluation of the ethical guidelines, inviting recommendations from NGOs and stakeholders?

    <p>2008</p> Signup and view all the answers

    What trend in international fund management aligns with the idea emphasized by the Norwegian Sovereign Wealth Fund regarding responsible investments?

    <p>Sound financial investment as an ethical obligation</p> Signup and view all the answers

    Which action did the Finance Minister, Kristin Halvorsen, mention in relation to ethical investments in 2010?

    <p>Beginning a positive selection program directed towards green investments</p> Signup and view all the answers

    What concept was used to solve the spending dilemma in Norway's macroeconomic regime?

    <p>Keynesianism</p> Signup and view all the answers

    What is a reason stated in the text that supports why unethical investments are contradictory to maintaining and increasing wealth for future generations?

    <p>Unethical investments are at cross purposes with this goal</p> Signup and view all the answers

    Which institutional structures in Norway facilitated compromise over tough dilemmas, according to the text?

    <p>Chicago school economics</p> Signup and view all the answers

    How did Richard Thaler take advantage of human behavior in the context of investment?

    <p>By creating the 'save more tomorrow' concept</p> Signup and view all the answers

    What is the term used to describe the combination of Chicago school economics and Keynesianism in Norway's macroeconomic regime?

    <p>Rule-based Keynesianism</p> Signup and view all the answers

    Which economic concept highlighted rules and predictability in the management of Norway's macroeconomic regime?

    <p>Chicago school economics</p> Signup and view all the answers

    What played a significant role in the success of the fund in Norway, according to the text?

    <p>'Save more tomorrow' concept</p> Signup and view all the answers

    What enabled countercyclical spending during economic downturns while also acting as a brake on short-term public spending from the fund's resources?

    <p>The decisions of 2001 and 2004</p> Signup and view all the answers

    What was the main purpose of the central bank reform mentioned in the text?

    <p>To change the macro-economic regime for policy decisions</p> Signup and view all the answers

    How did the decisions of 2001 and 2004 contribute to the success of the wider economic regime in Norway?

    <p>By opening conceptual and institutional spaces for compromise</p> Signup and view all the answers

    What was one of the key dilemmas faced regarding investment strategies for the fund?

    <p>Balancing risk with returns and ethics</p> Signup and view all the answers

    How did the establishment of ethical guidelines in 2004 impact the fund's status as a public institution?

    <p>It secured the fund's status as a valued public institution</p> Signup and view all the answers

    What concept was employed to find stable solutions to the spending vs. saving and investment dilemmas?

    <p>Opening new institutional spaces</p> Signup and view all the answers

    Why is it important for a reform to be understandable and logical to the public?

    <p>To ensure broad political and popular support</p> Signup and view all the answers

    What metaphor did Stoltenberg use to explain the principle of the fiscal rule to the general public?

    <p>Sustainable forest management</p> Signup and view all the answers

    What is the vision of the Norwegian petroleum fund for its investment portfolio?

    <p>Eternity</p> Signup and view all the answers

    Why is 30 years considered too soon to draw definitive conclusions about the Norwegian Sovereign Wealth Fund's investments?

    <p>The fund's eternal investment vision</p> Signup and view all the answers

    How does maintaining a broad political and popular support contribute to the success of an economic policy?

    <p>Facilitates enduring institutional frameworks</p> Signup and view all the answers

    Why is it challenging for the fund, as a universal owner of 1.5% of the global stock market, to navigate potential crises?

    <p>High level of global exposure</p> Signup and view all the answers

    What has been a key factor contributing to the political success of the Norwegian Sovereign Wealth Fund?

    <p>Broad political and popular support</p> Signup and view all the answers

    Which political parties have held the position of Minister of Finance in Norway during the last two decades?

    <p>Progressive Party and Socialist Left Party</p> Signup and view all the answers

    What does the majority of the population in Norway agree on regarding government spending of 'oil money'?

    <p>It should remain at current levels</p> Signup and view all the answers

    How do the major corporatist players in Norway generally view the economic policy regime associated with the fiscal rule?

    <p>They have never voiced opposition to it</p> Signup and view all the answers

    What is indicated by the fact that both the Progressive Party and the Socialist Left Party have managed the established economic policy regime faithfully?

    <p>The enhancement of political capital with respect to the fiscal rule</p> Signup and view all the answers

    Why have governments in Norway from both sides of the left-right divide stuck to the fiscal rule for 20 years?

    <p>To maintain broad political and popular support</p> Signup and view all the answers

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