Conduct-based Exclusions

It is of fundamental importance that the companies we invest in follow international laws, norms and conventions.


The Storebrand Group will therefore not invest in:

  • Companies that contribute to serious and systematic breaches of international law and human rights
  • Companies involved in serious environmental degradation
  • Companies involved in systematic corruption and financial crime
  • Companies will be excluded if the breaches are considered serious and the risk of a breach occurring is assessed as high.

Related Content

The Storebrand Standard

Product-based Exclusions

Observation List

Extra Criteria Beyond the Storebrand Standard

I. International Law and Human Rights

Storebrand will not invest in companies that contribute to serious violations of international law. This includes serious humanitarian law violations as well as violations of basic human rights.

II. Corruption and Financial Crime

Storebrand will not invest in companies that are involved in grand corruption. The criterion is based on, among others, the United Nations Convention against Corruption. Consequently, allegations of giving or receiving improper advantages, either in the private or public sector, are analyzed. The criterion also covers other serious financial crimes, such as tax evasion, accounting fraud and embezzlement.

III. Environmental Damage

Storebrand will not invest in companies involved in activities that cause serious environmental damage. The criterion is based on, among others, The UN Convention on Biological Diversity and The UN Framework Convention on Climate Change.

A fund having performed well in the past is no guarantee for future returns. Other factors with an impact on how a fund may perform in the future include market developments, the fund manager's performance, the fund's risk profile, and management fees. When the shares a fund is invested in decline in value, it may lead to negative returns.