NordAN´s letter concerning Norwegian Government Pension Fund

In mid-March, Norway media wrote that Norway Governments Oil Fund has invested close to 1.4 billion NOK in five companies with significant activities related to marijuana production.

NordAN board sent a letter of concern today about these facts to Norway Ministry of Finance and to the members of the Parliaments Standing Committee on Finance and Economical Affairs. The letter urged to rethink that investment and overall policy of investing in harmful psychoactive substances.

“It is our understanding that the practice you have chosen goes against the UN International Drug Control Conventions and undermines society’s efforts to prevent drug abuse,” states the letter which is signed by all NordAN board members.

“We commend you for excluding producers of tobacco from your fund for ethical reasons, but it is crucial to emphasize that like tobacco, cannabis products are also addictive and harmful. In addition to similar ethical problems, this decision could undermine the work of the police and society to prevent and limit the use of illicit and harmful substances.”

“Norway is a signatory to the UN Drug Control Conventions and has long been a champion of public health globally. We urge the Government Pension Fund to continue to uphold the principles of the UN drug conventions and reconsider the ethical implications of investments in companies that trade in a product that is illicit, harmful and addictive,” the letter concludes.

Letter of concern can be seen HERE