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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments, Fund Management/Administration

Norway Oil Fund Puts Astra International Under Observation

Posted on 14 October 2015

Norway’s central bank, which oversees Norway’s sovereign wealth fund, said it had put Indonesia’s Astra International Tbk PT under observation, after the company assured in June that it would take steps to mitigate environmental concerns. Last year the fund’s Council of Ethics had recommended the exclusion of Astra International.
However after the company said it would cease all logging and land conversion while developing a sustainability strategy, the ethics council decided to recommend placing the company under observation. The council recommended an observation period of four years to assess the impact of Astra’s new policy. Astra is the second company on the fund’s observation list, joining Alstom SA………………………………………..Full Article: Source


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