This book elaborates on how Norway has managed to convert a large fraction of its endowment of hydrocarbons below the seabed of Norwegian waters into financial wealth, invested in the world's capital markets. Further, it explains how this wealth is managed. Under the current guidelines, only the assessed return on investment may be allotted to public budgets. This ensures that the wealth will benefit both current and future generations. The capital is gathered in the Sovereign Wealth Fund - or State Pension Fund Global (SPF-G) -, which is intended to maximize capital value without exceeding acceptable risks. The book offers new insights into the history and management of the fund, examines its successes, and discusses future challenges. Given its scope, it appeals to scholars of economics, finance and political science, and to anyone interested in the sustainable investment of natural resource-based revenues.

Auteur
Ole Bjørn Røste is Associate Professor of Political Science at the Norwegian University of Science and Technology, Trondheim. He studied at The *Norwegian School of Economics and Business Administration *and holds a Ph.D. in Economics and Master's degrees (Political Science, Law) from The University of Oslo. Røste has previously worked for Norges Bank (19862001) and The Norwegian Ministry of Finance (20012002).

Contenu
Introduction.- Natural Resource Sustainability.- The Economics and Politics of SWFs.- Investing in Practice.- The Ethics of Investment.- Risks and Uncertainty.- A Sketch of an Evaluation.- The Future of the GPF-G.