On 8 December 2016, The Council on Ethics recommended the exclusion of Leonardo SpA from the GPFG due to the risk of gross corruption. The company has been involved in serious cases of corruption, alleged to have taken place in four countries between 2009 and 2014.
Please find the Council’s recommendation here.
Norges Bank did not follow the Council’s recommendation, but announced its decision to place the company under observation 5 May 2017. The Council on Ethics will follow up on the risk of corruption with the company while it is under observation.
On November 15, 2018, the Council submitted a letter to Norges Bank on the obsevation of the company.
Please find the 2018 observation letter here.
On December 17, 2019, the Council submitted a letter to Norges Bank on the observation of the company.
Please find the 2019 observation letter here.
On April 23, 2021, the Council submitted a letter to Norges Bank on the observation of the company.
Please find the 2020 observation letter here.
On August 23, 2022, the Council recommended to Norges Bank that the observation of Leonardo SpA be discontinued. On 15 December 2022, Norges Bank announced its decision to discontinue the observation of Leonardo.
Please find the Council’s recommendation here.