| Norway’s $870bn oil fund excluded four of Asia’s biggest companies because of concerns over severe environmental damage at Indonesian palm oil plantations. In the first use of a new procedure, Norway’s central bank decided the world’s largest sovereign wealth fund should not be able to invest in Daewoo International and Posco of South Korea, and Genting and IJM of Malaysia.
The four Asian companies join more than 50 companies that are excluded by the oil fund, including Boeing, British American Tobacco, Rio Tinto and Walmart. Decisions from the oil fund, which owns on average about 1.3 per cent of every stock in the world, are closely followed by other investors on ethical matters...............................................Full Article: Source
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