挪威政府任命的一个委员会周四建议，挪威应允许其2.3万亿美元的主权财富基金投资于目前因参与核武器生产而被排除在投资组合之外的主要西方国防集团。
Norway should allow its $2.3 trillion wealth fund to invest in major Western defence groups that are currently banned from its portfolio due to their involvement in nuclear arms production, a government-appointed commission recommended on Thursday.
公民社会团体批评了该委员会的这一提案及其他建议，认为这是对该基金道德规范的削弱，将树立一个可能被其他国际投资者效仿的倒退先例。
Civil society groups criticised the proposal and other suggestions by the commission as a watering down of the fund’s ethical rules, which would set a regressive precedent likely to be followed by other international investors.
这项关于国防公司的拟议变更是对全球最大主权财富基金道德规范进行的重大改革的一部分，如果被挪威议会采纳，可能导致数十亿美元投入武器制造商。
The proposed change on defence companies, part of a major overhaul of the ethics rules governing the world’s largest sovereign fund, could lead to investments of tens of billions of dollars in weapon-makers if adopted by Norway’s parliament.
该基金目前的规则禁止其购买空中客车（Airbus）、波音（Boeing）、BAE系统（BAE Systems）和洛克希德·马丁（Lockheed Martin）等公司的股份，理由是这些公司参与核武器的制造。
The fund’s current rules prevent it from buying stakes in the likes of Airbus AIR.PA, Boeing BA.N, BAE Systems BAES.L and Lockheed Martin LMT.N on the grounds that they contribute to the making of nuclear weapons.
但拟议的新规则将对那些在《不扩散核武器条约》（NPT）规定的核武器国注册，且与北约成员国挪威结盟的公司作出豁免。
But the proposed new rules would make an exemption for companies that are domiciled in a nuclear-weapon state under the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) and which are allied with NATO-member Norway.
“这意味着几家英国、法国和美国的武器公司可以重新投资，”委员会负责人斯韦因·耶德雷姆（Svein Gjedrem）在新闻发布会上表示。
“This means that several British, French and American weapon companies can be reinvested in,” commission head Svein Gjedrem told a press conference.
挪威红十字会等组织谴责了这一建议。“通过投资此类武器，我们正在向全世界发出信号：这些武器是可以接受的。这危及生命，”该组织负责人格雷特·赫洛夫松（Grete Herlofson）在向路透社发布的书面声明中表示。
The Norwegian Red Cross, among others, condemned the suggestion. “By investing in such weapons we are sending a signal to the whole world: these weapons are acceptable. This endangers lives,” its chief Grete Herlofson said in a written statement to Reuters.
挪威财政部长、前北约秘书长延斯·斯托尔滕贝格（Jens Stoltenberg）曾要求该委员会审查道德规范，理由是全球安全局势的变化以及挪威对北约核保护伞的依赖。
Finance Minister Jens Stoltenberg, a former NATO secretary general, had asked the commission to review the ethics rules, citing changes to the global security situation and Norway’s reliance on NATO’s nuclear umbrella.
其他被排除在外的国防集团还包括萨夫兰SAF.PA、塔雷斯TCFP.PA、BWX技术公司BWXT.N、诺斯罗普·格鲁曼NOC.N、弗洛尔FLR.N、通用动力GD.N、亨廷顿英格尔斯工业公司HII.N、雅各布斯解决方案公司J.N、L3哈里斯技术公司LHX.N以及L&T LART.NS。
Other defence groups on its exclusion list are Safran SAF.PA, Thales TCFP.PA, BWX Technologies BWXT.N, Northrop Grumman NOC.N, Fluor FLR.N, General Dynamics GD.N, Huntington Ingalls Industries HII.N, Jacobs Solutions J.N, L3Harris Technologies LHX.N and L&T LART.NS.
排除仍可能基于其他道德理由得以维持，但委员会还建议修改相关程序。该提案是在美国总统特朗普政府一年前批评该基金因其推土机在加沙和被占领的西岸被使用而撤资美国公司卡特彼勒CAT.N之后提出的。
Exclusions could still be upheld on other ethical grounds, but the commission also recommended altering the procedures under which that could take place. The proposal comes a year after US President Donald Trump’s administration criticised the fund for divesting from US company Caterpillar CAT.N over the use of its bulldozers in Gaza and the occupied West Bank.
如果少数派工党政府采纳委员会的提议，它将在议会中获得足够支持以通过。财政部预计将在2027年春季提出自己的建议。
Should the minority Labour government adopt the commission’s proposal, it would have enough support in parliament to pass. The finance ministry is expected to make its own suggestions in spring 2027.
在提案下，道德理由可以保持沉默。去年，挪威议会在特朗普政府批评后几周，暂停了由国家所有基金进行的基于道德的撤资，直至本周四提出的审查结果出炉。
ETHICAL REASONING CAN BE KEPT QUIET UNDER THE PROPOSALS Norway’s parliament last year paused ethics-based divestments by the state-owned fund, weeks after the Trump administration’s criticism, pending the outcome of the review presented on Thursday.
该基金超过一半的资产投资于美国，投资组合中规模最大的10家公司是英伟达NVDA.O、苹果AAPL.O和亚马逊AMZN.O等科技公司，占该基金股票持仓价值的20%以上。
More than half the fund’s assets are invested in the US, with the 10 largest companies in the portfolio being tech companies such as Nvidia NVDA.O, Apple AAPL.O and Amazon AMZN.O, accounting for over 20% of the value of the fund’s share holdings.
在暂停之前，基金的独立道德监督机构——伦理委员会曾提出撤资建议并提交给央行董事会，后者拥有最终决定权。董事会通常会遵循伦理委员会的建议。
Before the suspension, the Council on Ethics, the fund’s independent ethical watchdog, made recommendations to divest and sent them to the board of the central bank, which had the final say. The board usually followed the council’s recommendations.
一旦基金完全撤出某家公司，其理由将被完整公布，许多领先的全球机构投资者也会效仿。
Once the fund had sold out of a given company, the rationale was published in full and many leading global institutional investors followed suit.
周四，委员会表示，虽然伦理委员会应继续存在，但它不应再就行动方案提供建议，而只应对公司的道德违规行为进行分析。
On Thursday, the commission said that, while the council should continue to exist, it should no longer advise on a course of action, only give analyses of ethical breaches by companies.
是否从某家公司撤资、是否公开监督机构的评估结果、何时撤资以及以何种形式公开这些信息，都将由管理该基金的中央银行来决定。
It would be up to the central bank, which operates the fund, to decide whether to divest from a company, whether to publish the watchdog’s assessments, when to do it and in what format.
报告还指出，对于那些规模最大的公司，需要格外谨慎处理——因为撤资会对基金的总价值产生更大的影响。
Special care should be taken of the largest companies since a divestment would have a bigger impact on the fund’s overall value, it added.
倡导组织“Future in Our Hands”的负责人Tale Hungnes告诉路透社，该委员会的提议将使这个道德监督机构变得“无力发挥作用”（即无法有效履行其监督职责）。
Tale Hungnes, leader of advocacy group Future in Our Hands, told Reuters the commission’s proposal would make the ethics watchdog “toothless”.
她表示：“国际法和基本人权原则不应仅仅因为某家公司盈利、具有政治敏感性或难以撤资就被忽视。”
“International law and fundamental human rights cannot become less important simply because a company is profitable, politically sensitive, or difficult to divest from,” she said.
委员会负责人Gjedrem指出，随着基金规模的扩大，其在国际上的影响力也随之增强；然而在当前地缘政治局势日益复杂、国家间交易活动频繁的背景下，该基金反而更容易受到各种威胁。
COMMISSION HEAD SAYS FUND IS NOW MORE VULNERABLE TO THREATS Gjedrem, the commission’s head, said the fund, by becoming bigger, had become more visible abroad, at a time when the geopolitical situation is more fragmented and more transactional between nations, making the fund more vulnerable to threats.
他说：“该基金在海外引发了诸多争议，因此面临更大的对抗风险。”不过他并未具体提及美国或其他任何大国可能采取的报复措施。
“The fund is met with reactions abroad and there is a greater risk of countermeasures,” he said. He did not mention the US, nor any other big power.
特朗普的盟友、美国共和党参议员Lindsey Graham曾提议对挪威主权财富基金撤资卡特彼勒（Caterpillar）的行为实施关税制裁或吊销签证。
Trump ally and Republican US Senator Lindsey Graham had suggested tariffs and visa revocations in retaliation for the Norwegian sovereign wealth fund’s Caterpillar divestment.
Stoltenberg此前曾对路透社表示，该基金公开撤资理由的做法确实存在一些困境（即这种透明度可能带来负面影响）。
Stoltenberg previously told Reuters the openness of the fund in publishing the reasons why it was divesting posed dilemmas.
周四，他再次强调：“问题不在于该基金本身是否合乎道德标准；关键在于我们在一个不断变化的世界中该如何坚守道德原则。”
On Thursday, he said the question was not whether the fund could be ethical or not. “It will continue to be ethical, but it’s a question of how we are ethical in a changing world,” he told Reuters.