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Nobel Prize Funding Criticized

Published måndag 28 november 2005 kl 11.51

A Norwegian non-government organization says the fortune which funds the Nobel Prizes is managed with no regard for ethical principles.

The NorWatch group denounced a lack of transparency at the Nobel Foundation, and says Nobel money is invested in the arms trade.

The financial director of the Nobel Foundation in Sweden says the foundation discusses these questions with its investment partners in order to ensure that money is placed in shares that are not incompatible with the foundation’s aims.

The Nobel Prizes are funded from money left by Alfred Nobel, the inventor of dynamite.

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