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Why is the management of Norwegian state-owned companies not always considered a PEP?

Some managers of State owned companies are not considered a PEP. Here you can read why that is.

Mia avatar
Written by Mia
Updated over 2 months ago

The Norwegian government itself classifies its state-owned companies into two distinct categories based on the state's goals for ownership. You can find more details on the official government website: regjeringen.no.

  • Category 1: Companies where the state's primary goal is sustainable and the highest possible return over time.

  • Category 2: Companies where the state has public policy goals in addition to or instead of return-based goals. These companies are often assigned specific public service obligations.

Based on the legal framework, Trapets (Strise’s PEP vendor) assessment is that companies in Category 2 are the ones that most clearly perform public administration duties and fall under the definition of a "State enterprise" as required by the legislation.

See full list of state owned companies and what category they belong to, here: https://www.regjeringen.no/no/tema/naringsliv/statlig-eierskap/selskaper---ny/id2604524/?expand=factbox2678969.

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