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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Trends

Malaysia: Norway fund pulls out of 23 palm oil companies

Posted on 11 March 2013

Norway’s pension fund, the largest sovereign wealth fund in the world, has pulled out of 23 palm oil companies in Indonesia and Malaysia after deeming them to be producing palm oil “unsustainably”.
The fund, worth US$710 billion (RM2.2 trillion), announced this in its annual report on Friday following its move last year to expand its investment guidelines to include deforestation as a threat to future growth. “In the first quarter of 2012, we sold our stakes in 23 companies that, by our reckoning, produced palm oil unsustainably………………………………………..Full Article: Source


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