Norway's $2.3tn Fund Backs Human-Rights Review at Palantir
Norges Bank Investment Management, managing Norway's massive $2.3 trillion oil fund, has announced it will vote in favor of shareholder proposals regarding human rights due diligence and impact assessment at data analytics company Palantir Technologies.
May 29, 2026 - 9:35 am
The fund disclosed its intent to support motions on:
- Human-rights due diligence and impact assessment, focusing on Palantir's software usage and its potential contribution to US immigration detentions and deaths in custody.
- Reporting of political contributions.
This vote is significant as the world's largest sovereign wealth fund publicly expressing concern about a company it owns, especially one with controversial contracts like Palantir's with US Immigration and Customs Enforcement and the Israeli government.
The central proposal, submitted by the Congregation of the Sisters of St Joseph of Peace, calls for Palantir to conduct and publish a human-rights impact assessment. In a groundbreaking move, Norges Bank Investment Management has not only supported but actively advocated for enhanced human rights oversight of Palantir Technologies. This strategic shift comes as the fund exercises its influence as the world's largest sovereign wealth fund. By backing proposals for rigorous impact assessments and transparent reporting, Norway sends a powerful message to Palantir and its clients, signaling a new era of ethical investment scrutiny. This decision echoes similar calls from global investors who seek to hold technology companies accountable for their actions, especially in areas of immigration and human rights. The fund's approach offers a model for responsible investing, demonstrating that financial power can be wielded for ethical purposes. Read the full article The fund's support for this motion gains attention, as similar proposals have been made by New York City Comptroller and the Dutch pension fund ABP, both pressing Palantir for independent human rights evaluations.
Norway's Storebrand, managing around $109 billion, has also divested from Palantir over sales to Israel for use in occupied Palestinian territory. However, this vote is notable as it allows the fund to express ethical concerns through the ballot rather than divestment, adding visibility to its stance on human rights issues.