The Council on Ethics for the Government Pension Fund Global is an independent body which, under the interim ethical guidelines adopted on 7 November 2025, shall inform Norges Bank about companies whose activities fall within specified criteria. The temporary ethical guidelines for the Fund’s investments include both product-based criteria—covering the production of tobacco, cannabis, coal, and certain types of weapons—and conduct-based criteria, which encompass economic crime, the sale of weapons to certain states, human rights violations, and environmental damage. The guidelines are forward-looking and address the risk of ongoing or future unacceptable practices. Their purpose is to identify companies for potential exercise of ownership.