The Norwegian Government has decided to separate one billion kroner from the Government Petroleum Fund in order to set up an Environmental Fund to be invested in international stock markets according to certain environmental criteria. The Ministry of Finance is requesting proposals for screening services in order to identify the companies that comply with these criteria.

Environmental reports and environment certificates are indicated as basis for the screening services, but the criteria have not yet been finally decided. The Environmental Fund should comprise stocks in as many as possible of the 21 markets open for investment by the Government Petroleum Fund and must comprise at least USA, Canada and Great Britain.

Proposals must be submitted by 8 November 1999. The invitation to tender is available on internet: http://www.finans.dep.no/engelsk/index.html under the headline The Government Petroleum Fund.