| Norway’s US$871bil sovereign wealth fund Norges Bank has excluded IJM Corp Bhd and Genting Bhd from its investments due to risks of “severe environmental damage”. Two other companies that the fund said it would not invest in are South Korean steelmaker POSCO and Daewoo International Corp, a trading company and listed subsidiary of POSCO.
“Norges Bank has decided to exclude the companies IJM Corp, Genting, POSCO and Daewoo International Corp from the investment universe of the Government Pension Fund Global. “The companies are excluded based on an assessment of the risk of severe environmental damage,” it said in a statement. Both IJM Corp and Genting have interests in palm oil operations...............................................Full Article: Source
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