Thank you for the opportunity to contribute to the development of your next climate action plan. Spire is an environmental and development organization led by youth across Norway. We work for a just and sustainable world by addressing the root causes of inequality, climate change, and environmental degradation. We look forward to continued dialogue and cooperation. 

Future generations

Every member of Spire is under the age of thirty. We have lived our entire lives under the shadow of the climate crisis. We hope that you in NBIM take your responsibility towards our future generations seriously. You have our future in your hands. Last year, Norway’s Minister of Finance emphasized that the Oil Fund is built for the long term, with a horizon of several hundred years. To truly meet that vision, NBIM must act decisively on climate. 

Through this climate action plan we need you to ensure bold shifts in investment practices. Continued exposure to fossil fuels is incompatible with a livable future and with the Fund’s long-term interests.

As with Norway’s managed transition away from offshore oil dependency, we now need a managed transition for the Oil Fund’s portfolio. Our common savings must be invested in ways that contribute to climate stability, not undermine it.

Global solidarity and responsibility

Spire believes that those with the greatest historical responsibility for the climate crisis must lead the way in solving it. Norway, as a wealthy country with significant global financial influence through the Oil Fund, has a moral obligation to act first and act decisively.

Climate justice cannot be separated from human rights, indigenous rights, and environmental protection.

Conclusion

As one of the world’s most powerful financial institutions, NBIM has both the tools and the responsibility to be a global leader in climate action. The choices made today will shape the world we inherit tomorrow. We urge you to rise to this moment with the ambition and courage the crisis demands.