03.03.2014 - Norway pension fund steps up ethical investment policy
The Norway sovereign wealth fund, the largest in the world with assets of $810 billion (£485 billion), recently excluded a mining company from its portfolio because of its parent company’s operations. Sesa Sterlite, an India-focused subsidiary of mining conglomerate Vendanta Resources, which itself was excluded from the pension fund in 2007, was recommended to be excluded by the Council of Ethics. They cited exclusion on ethical grounds, saying Vedanta’s “relevant operations in India, which are run through the company Sesa Sterlite, present an unacceptable risk of environmental damage and serious violations of human rights.”..............................................Full Article: Source
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