Conservation groups say Norway's sovereign wealth fund – known as the ”oil fund” and thought to be the largest in the world – should set a better example of ethical investment in a country that is experiencing some of the world's worst deforestation problems.In recent years Norway has won plaudits as the leading financier of forest conservation in tropical countries under the Reducing Emissions from Deforestation and Degradation (Redd) scheme. Its commitments include billion-dollar pledges to Indonesia and Brazil, and have played an important role in climate talks.But environmental groups have highlighted the apparent contradiction in Norway's approach, which appears to fund conservation from one budget, while investing heavily from another in companies that accelerate deforestation.The UK-based Environmental Investigation Agency wrote in October to the country's prime minister, Jens Stoltenberg to call for a new approach. The NGO said Norway's financial involvement in Indonesia was a net negative for the environment. It said that the 30 million Dollars that Norway provided for Redd projects in 2010 is just of the fifth of the profits and a third of the investment value in companies involved in "logging, plantations, and mining currently deforesting large areas of Indonesia."Earlier this year, Rainforest Foundation Norway named 13 companies associated with deforestation – either through logging, mines or forest clearing for palm oil plantations – that the Norwegian fund had invested in. It said the value of the holdings increased 18 percent last year."Norway is saving rainforest with one hand and destroying the rainforest with the other," Lars Løvold of the Rainforest Foundation Norway wrote recently.