You are being redirected to the story the piece of content is found in so you can read it in context. Please click the following link if you are not automatically redirected within a couple seconds:
en/norwegian-govt-pension-fund-adopts-new-guidelines-for-responsible-investment#c49204
Giant Norway fund relaxes controversial exclusion policy
Author: Hugh Wheelan, Responsible Investor, Published on: 2 March 2010
The giant Norwegian Global Pension Fund is softening its controversial, hard-line stance on corporate exclusions in favour of putting more companies on watch and lobbying for change…The development relaxes the fund’s previous position under which it tended to blacklist companies where it deemed there was risk of unethical complicity…The government said new engagement guidelines for the fund would enable it to consider “alternative measures” before a company is excluded on grounds of grossly unethical behaviour. It said active ownership or ‘observation’ might reduce the risk of continued violations of ethical norms better than exclusion...The new guidelines also include “ambitious requirements” for the fund to integrate best environmental, social and governance practices, transparency and reporting into investment. [refers to Norges Bank, United Technologies]
Related companies: Norges Bank Investment Management (NBIM) United Technologies