27.09.2013 - Norwegian Ethics Council Chair Mestad cautions on insincere ESG compliance
Currently, Ola Mestad is the chair of the Council on Ethics for Norway’s Government Pension Global (GPFG) and a professor of law at the University of Oslo. It has been reported that Ola Mestad is not as enthusiastic about the efficacy of Norway' sovereign wealth fund in recent days, specifically its responsible investment criteria. The ethics council has a list of companies to be excluded from the sovereign wealth fund’s investment universe. Some of the companies on the exclusion list include Fortune 500 companies like Lockheed Martin Corporation, Northrop Grumman Corporation, Wal-Mart Stores and Boeing Co. In addition, a number of excluded companies have substantial public funds as investors such as Rio Tinto Plc and Potash Corporation of Saskatchewan...............................................Full Article: Source
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