The Ministry of Finance in Norway has introduced tough new ethical investment guidelines for the Nkr845bn (€102.8bn) Petroleumfund, Europe's second largest asset pool, banning it from investing in nuclear weapons manufacturers.

The guidelines, some of the toughest in Europe and published in the country's national budget, also prevents the fund from investing in companies that breach human rights, are involved in corruption or cause environmental damage. The fund's existing regulations already prohibit it from investing in chemical and biological weapons manufacturers as well as anti-personnel mines, cluster and firebomb makers.