Most variations of international-relations realism include some notion of states sacrificing ethical considerations at the altar of national interest. It's never been completely clear, of course, whether this is a descriptive claim, or a prescriptive one—whether, in other words, the idea is that states should behave this way, or that they in fact do. Those pondering this question ought to consider the case of Norway. In a brief but revealing cable included in the vast WikiLeaks "CableGate" trove and published last week by the Norwegian paper Aftenposten, US embassy officials report that the Nordic nation opted to divest its sovereign wealth holdings from companies violating "humanitarian principles" and "fundamental ethical norms."
In case you are thinking that major global corporations aren't exactly quaking in their boots at the prospect of divestiture by Norway, think again. Built on the healthy revenues of Norway's thriving oil sector, the country's sovereign fund invests its considerable wealth in over 7,000 corporations worldwide. In fact, the fund is the largest single investor in Europe. To judge from the WikiLeaked cable, the combination of Norway's financial heft with its righteous ethical stance concerned American diplomats because, well, it disproportionately affects US corporations—specifically, America's highly-profitable and politically-influential arms manufacturers.