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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway’s wealth fund axes 11 firms over deforestation

Posted on 29 March 2016

The world’s largest sovereign wealth fund last year dropped 11 companies over deforestation, including palm oil firms clearing rainforests in Indonesia, with one firm accused of using fire to the clear the land.
The decision by Norway’s US$830 billion (S$1.14 trillion) government pension fund underscores the growing clout the finance sector has in pushing companies to improve their environmental practices. Among the 11 were Genting Berhad and IJM Corp of Malaysia, and South Korea’s Posco and its subsidiary Daewoo International Corp………………………………………..Full Article: Source


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