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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Oil fund questions oil giant’s ethics

Posted on 25 April 2013

The state-appointed ethics council that oversees investments made by Norway’s huge oil-fueled sovereign wealth fund is questioning whether operations by US oil giant ExxonMobil in Equatorial Guinea violate “fundamental ethical norms.” If so, the fund may need to sell off its ExxonMobil stock.
The council is charged with evaluating investments in individual companies in which Norway’s popularly called “oil fund” has stakes. The Norwegian finance ministry, ultimately in charge of the fund that’s tied to Norway’s central bank and long has ranked as one of the biggest investment funds in the world, makes its decisions based on the council’s recommendations………………………………………..Full Article: Source


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