Sat, Jul 2, 2022
A A A
Welcome mteam
RSS

Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norwegian pension fund dumps Petrobras over corruption

Posted on 24 June 2016

Norway’s largest pension fund has blacklisted Petrobras over concerns that the state-controlled oil company at the centre of a Brazilian bribery scandal is prone to further corruption problems beyond its home market.
KLP, which oversees NKr553bn ($67bn) of assets, said it would no longer invest in Petrobras due to the “unacceptable risk” of future problems at the company. KLP is the first large investor to publicly blacklist Petrobras since a vast bribery scandal emerged at the company in 2014, costing it at least R$6.2bn ($1.7bn) in corruption-related losses………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 19873 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
July 2022
M T W T F S S
« Nov    
 123
45678910
11121314151617
18192021222324
25262728293031