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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway’s wealth fund to review stake in palm oil producer

Posted on 14 October 2015

Norway’s sovereign wealth fund should monitor its investment in Indonesia’s Astra International to ensure its palm oil operations don’t break ethical guidelines, the Norwegian central bank said on Tuesday. The decision gives the company four years to meet the $856 billion fund’s ethical standards. If it fails, Norway could sell its 0.3 percent stake, worth $73 million according to Thomson Reuters data.
Astra International is one of the biggest companies listed on the Jakarta stock exchange, with a market value of around $18.5 billion and businesses spanning auto distribution and palm oil to mining equipment and financial services. It held a 79.7 percent stake in palm oil producer PT Astra Agro Lestari Tbk as of end-June, the data shows………………………………………..Full Article: Source


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