Danske Bank divests from 13 companies on ethical grounds

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25 September 2008

Largest Danish bank to clean up investments

Author: DanWatch

Danske Bank, today launched new ethical measures including a blacklist of 13 ‘negative companies’ and promises of a stronger commitment to Social Responsible Investment (SRI) and active ownership-engagement. Shares in the 13 companies on the Danske Bank blacklist, including top military suppliers Lockheed Martin and General Dynamics Corporation, and car manufacturer Nissan, have already been sold, amounting to a total divestment of some 23 million Euro. Meanwhile, another 17 companies have been placed on an ‘observation list’…The Danish banking group has lately been struggling with intense public criticism following media attention to its pension fund investments in a number of controversial companies.

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17 September 2008

[Full list of companies divested from by Danske Bank]

Author: Danske Bank

Blacklist: Aerostar, Alliant, Avichina, Dongfeng, General Dynamics, Hanwha, L-3 Communications, Lockheed Martin, Nissan, Poongsan Corporation, Raytheon, Singapore Tech., Textron [includes reasons for divestment]

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