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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway excludes Schweitzer-Maudit and Huabao from wealth fund

Posted on 09 May 2013

Norway’s sovereign-wealth fund, the world’s largest, excluded Schweitzer-Mauduit International Inc. (SWM) and Huabao International Holdings Ltd. (336) from its portfolio because of their involvement in tobacco production.
The $740 billion Government Pension Fund Global sold its shares in both companies because they produce reconstituted tobacco leaf, or RTL, the Finance Ministry said in a statement today. The ministry, which sets the investment guidelines for the Oslo-based fund, excluded the groups based on the recommendation of the Council of Ethics………………………………………..Full Article: Source


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