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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway cuts ties with two Malaysian forestry companies

Posted on 18 October 2013

Norway has blacklisted two Malaysian timber companies after an investigation brought to light the environmental havoc they have wreaked on Borneo’s tropical forests. On Saturday, the Norwegian Government Pension Fund Global (GPFG) — the world’s largest sovereign wealth fund — announced it has sold stakes in WTK Holdings Berhad and Ta Ann Holdings Berhad, Malaysian companies with extensive logging operations and timber plantations.
The decision is based on recommendations from the fund’s Council on Ethics, which conducted an investigation that found “unacceptable risk” of large-scale forest destruction, non-compliance with environmental laws, and poor forest management practices………………………………………..Full Article: Source


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