On 1 March 2018, the Council on Ethics recommended the exclusion of JBS SA from the GPFG due to the risk of gross corruption. Former members of JBS’s management and board of directors have admitted to bribing more than 1,800 politicians from 28 different political parties in Brazil over the past 10-15 years.
On 10 July 2018, Norges Bank published its decision to follow the Council on Ethics’ recommendation.