This article identifies and critically examines three differentaspects of investor responsibility. First, investors haveresponsibilities toward their clients. Second, investors are responsible for taking steps toreduce the risk that an investment directly or indirectlycontributes to harm. Finally, investorsshould take into consideration the symbolic and signallingeffects of an investment decision. This article discusses howthese responsibilities should be interpreted and also howthey play out in practice. Norway’s Government PensionFund is used as a case in point.

Nowadays, special attention is given to the hazards associated with genetic engineering and new inventions in biotechnology, and in fear of severe consequences, researchers, institutions and governments are required to act responsibly. The term “responsibility” may be defined in numerous ways. The definition considered in this paper, is one we believe is in common use: “Generally speaking, a person has a special responsibility for a particular outcome if they knowingly brought it about and it would not exist if not for (...) what they did”. This concept of moral responsibility rests on what we term the three ‘I's’: individual, intentional and informed. Responsibility is individual in the sense that it must be directed towards someone. A second requirement of moral responsibility presupposes the ability to do otherwise, i.e. it presupposes each human being as an intentional actor, capable of acting according to his/her own free will. In order for someone to be responsible for their actions, the choice between alternatives must be informed. The article focus' on these three aspects of responsibility in order to reveal how difficult it is to apply and make sense of this definition with regard to new inventions in science. (shrink)