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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Dumping tobacco cost Norwegian oil fund $1.9bn

Posted on 18 April 2016

Sovereign wealth fund’s loss may force investors to reconsider divestment from the sector. The Norwegian oil fund’s decision to dump tobacco companies has cost the world’s largest sovereign wealth fund $1.9bn in missed profits over the past decade.
The losses have prompted hardened campaigners for tobacco divestment to admit the economic arguments for shunning companies like Philip Morris and Imperial Tobacco are flawed, potentially leading other big investors to review their exclusion policies………………………………………..Full Article: Source


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