All Nordic countries are now signatories to the treaty, which is the culmination of a process started by the Norwegian government in 2006. In 2005, the Council on Ethics for the Norwegian Government Pension

Fund – Global issued its first divestment recommendations for companies involved in cluster munitions, which include negative investment criteria for companies that either themselves, or through entities they control, produce weapons that through normal use may violate fundamental humanitarian principles. In June, Swedish AP7 announced that it would divest itself from companies involved with cluster munitions and nuclear weapons.

• Nordea Life and Pensions has expanded its business into the Baltic region. Its first move has been to offer Estonians pension funds and insurance products. Later this year, it will do the same in Latvia and Lithuania. Johan Sidenmark, head of Nordea Life and Pensions, said that following the successful banking venture by the firm in the region, the time was now right to expand further. He said: “The Baltic expansion is the next step within Nordea Life and Pensions’ growth strategy in terms of setting up business in new markets. Even though the Baltic region is currently experiencing an economic downturn, there is a low correlation to pension savings.”

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