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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway’s oil fund takes France’s Alstom off ethics risk list

Posted on 28 December 2015

Norway’s $837 billion sovereign wealth fund, the world’s largest, has removed French engineering group Alstom SA off its ethics monitoring list, the fund said on Tuesday. The fund said Alstom was put on the list in 2011 when Norway’s finance ministry also put the French company under observation based on an assessment of possible risks of corruption in its operations.
The observation period was set for four years with the ministry asking the fund’s ethics council to monitor the company and follow developments in its anti-corruption efforts. The Norwegian central bank, which supervises the sovereign wealth fund, said on Tuesday that it had decided to end the monitoring on the advice of the fund’s ethics council………………………………………..Full Article: Source


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