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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway oil fund to sell holdings on environmental concerns

Posted on 15 October 2013

Norway’s government has told its $790 billion oil fund to sell holdings in five companies because of environmental issues and expressed concern over others, including Shell and Eni, the finance ministry said on Monday.
The fund, the world’s largest sovereign wealth fund, is barred from investing in WTK Holdings Berhad, Ta Ann Holdings Berhad, Zijin Mining Group and Volcan Compania Minera because their activities pose a “risk of severe environmental damage”, it said in a statement. But contrary to the recommendation of its Ethic Council, the government did not place Royal Dutch Shell and Eni on its watch list for possible exclusion and instead asked the fund to place a greater emphasis on scrutinising their activities in the Niger Delta………………………………………..Full Article: Source


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