15.10.2013 - Norway blacklists 2 Malaysian logging companies for 'severe environmental damage' in Borneo
Norway's $760 billion pension fund has divested from two Malaysian forestry companies due to 'severe environmental damage'. 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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