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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norwegian fund drops Aboitiz due to coal use

Posted on 12 July 2016

The Norwegian central bank, Norges Bank, has dropped 52 companies including Aboitiz Power from its Government Pension Fund Global (GPFG) because of the companies’ business activities in coal. The list includes 22 firms from the United States;seven each from China and India; three from Japan; two each from Chile, Canada, Hong Kong and Australia; and one each from the United Kingdom, South Africa, Poland and Greece.
“Norges Bank has decided to exclude 52 companies from the Government Pension Fund Global after an assessment of the new product-based coal criterion. The exclusions follow a first round of analysis by Norges Bank Investment Management. Further exclusions will follow in 2016,” a statement from the bank said………………………………………..Full Article: Source


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