The Norwegian Ministry of Finance has issued guidelines for observation and exclusion from the GPFG - Guidelines for the observation and exclusion of companies from the Government Pension Fund Global, adopted by the Ministry of Finance 18 December 2014: https://www.regjeringen.no/en/topics/the-economy/the-government-pension-fund/responsible-investments/guidelines-for-observation-and-exclusion/id594254/
Norges Bank makes decisions on the observation and exclusion of companies, based on recommendations from the Council on Ethics. Folketrygdfondet's Nordic portfolio is subject to decisions regarding the exclusion of companies from the Government Pension Fund Global's investment universe. Folketrygdfondet lists the companies excluded from the Fund's portfolio here: http://www.folketrygdfondet.no/dialog/category338.html
The Guidelines and the exclusion and observation procedures are described in more detail on the Ministry of Finance website: https://www.regjeringen.no/en/topics/the-economy/the-government-pension-fund/responsible-investments/id446948/ and on the Council on Ethics website: http://etikkradet.no/en/
One company is currently excluded from Folketrygdfondet's investment universe, for production of tobacco. No new companies were excluded or included from the investment universe during the reporting period.