The Executive Board of Norges Bank Investment Management, which is responsible for the investments of the Government Pension Fund Global, has decided to revoke the exclusion of Serco Group PLC.
The company has been excluded since 2007 due to the production of nuclear weapons. This rested on the company’s participation in the joint venture AWE-ML, which was the operational arm of the UK’s Atomic Weapons Establishment (AWE).
One of AWE’s tasks is to produce and maintain the UK’s nuclear arsenal. AWE-ML has now been dissolved and its operations reincorporated into the state-owned AWE. Serco confirmed that it is no longer involved in AWE-ML.
Against this background, the Council on Ethics has recommended that there is no longer a basis for excluding the company.
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