What to do with 1.7 trillion euros?
Since 14 January 2025, 60 randomly selected Norwegians are discussing in a Future Panel how Norway's wealth can be used for the benefit of current and future generations.
Specifically, it is about the resources of the Norwegian Sovereign Wealth Fund. Founded in 1996, the fund is fuelled by the Norwegian state's income from oil and gas production. It is now worth the equivalent of 1.8 trillion dollars. The fund is one of the largest global investors and owns around 1.5 per cent of all listed shares worldwide. However, it also invests in bonds, property and renewable energies. In 2024, the fund made a profit of 213 billion euros.
A reflection of the population
The Future Panel is a reflection of the Norwegian population. It meets seven times over the course of four months to acquire the necessary knowledge with the help of experts, discuss important issues and ultimately make recommendations on how Norway should handle its oil wealth and investments in the future for the benefit of future generations. The final recommendations will be submitted to policy makers and presented to the public.
On 13 November 2024, 40,000 residents received an SMS invitation to take part in the Future Council. From the 3,785 people who expressed an interest in participating, 60 members of the Future Panel were randomly selected. The participants were drawn on the basis of five criteria: Age, gender, place of residence, education and political affiliation.
Age distribution from 16 to 83
The age distribution ranges from 16 to 83 years, and the participants have educational qualifications from primary school to higher education. In addition, the composition of the panel reflects the turnout of Norwegians in the 2021 parliamentary elections and roughly corresponds to the nationwide distribution of voters.
On the digital platform Aula, anyone who wants to can make suggestions to the members of the Future Panel and also read the contributions of others.
Question formulated by civil society
The question to be answered by the mini-public was posed by seven civil society organisations : Save the Children, Norwegian Church Aid, the National Council for Norwegian Children and Youth Organisations LNU, Caritas, WWF World Wildlife Fund, Langsikt - the think tank for long-term policy - and Future in Our Hands.
In terms of content, the main focus is on
- which considerations and values should guide the state in its decisions
- which problems in the world Norway has particularly good reasons to contribute to solving
- how the sovereign wealth fund should be used now and in the future.
‘With the Future Panel, we want to initiate a national debate on how Norway can contribute to a better future for current and future generations in the face of the world's common challenges. We hope that politicians across party lines will listen to the Citizens‘ Assembly's recommendations,’ says Eirik Mofoss, CEO of Langsikt.
Funding from international partners
The project is funded by several national and international partners, including the European Climate Foundation, Sunrise Project, Ragnhild and Jens Ulltveit-Moe and Værkraft Fonden. The budget for the planning, realisation and follow-up of the Future Panel amounts to approximately 3.8 million Norwegian kroner (approx. 324,000 euros).
The mini-public follows the OECD principles for citizen participation, and the process is designed to ensure broad legitimacy and a balanced, independent dialogue.
Secretariat organises the process
A secretariat, managed by the non-profit organisation SoCentral in cooperation with We Do Democracy, organises the entire process from the recruitment of participants to the facilitation of the meetings. It ensures that the Citizens' Assembly has access to neutral and relevant information so that participants can make good and informed decisions. The secretariat is also responsible for ensuring that the process is conducted independently and impartially.
The Future Panel members will report on their work and present their findings on 25 May 2025. The recommendations will then be submitted to Parliament.