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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway wealth fund zeroes in on textile industry

Posted on 05 October 2015

The ethics council that makes recommendations for the $820 billion (Dh3 trillion) Norwegian sovereign wealth fund is zeroing in on companies in textile manufacturing for breaching its standards, the head of the watchdog said. In a study of about 400 textile manufacturers the group has chosen to concentrate on “two handfuls” that it has contacted, said Johan H. Andresen, chairman of Norway’s Council on Ethics, in an interview Thursday at his office on the outskirts of Oslo.
“We will see whether we think that they are willing and able to make changes in their conduct,” he said. The world’s biggest wealth fund takes into account ethical rules encompassing human rights, some weapons production and the environment. It has excluded more than 60 companies after recommendations from the council………………………………………..Full Article: Source


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