Norway's Government Pension Fund Global, commonly referred to as the Oil Fund, made the decision to divest from 58 companies during the year 2025, as detailed in its Responsible Management Report. Among these divestments, 17 companies were newly included in the fund’s reference index within the same period. Since 2012, a total of 633 decisions concerning divestments have been recorded. Nicolai Tangen, the fund's chief executive, emphasized that the year was characterized by heightened global uncertainty, influenced by ongoing wars, escalating geopolitical tensions, and shifting political frameworks.

Tangen highlighted the significant impact of rapid technological developments and the tangible effects of climate change on the global economy. The fund held over 3,000 meetings with a total of 1,341 companies last year, indicating its proactive approach to corporate engagement as a major shareholder in 7,201 companies worldwide. The response strategy involves prioritizing engagement with the largest investments or where risks and opportunities are perceived to be most significant, as outlined in the summary report.

Underlining its commitment to responsible investment practices, the Oil Fund's management reflects on the growing complexities in the global market. The divestments from companies reflect not only strategic financial decisions but also a broader consideration of the environmental and social governance practices within the corporate sphere. The report illustrates the fund's adaptability to changing market conditions while maintaining its focus on sustainability and responsible investing.