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Article

20 May 2019

Author:
Carlos Tornero, Responsible Investor

The Norwegian Sovereign Fund exposed to human rights risks in the Occupied Palestinian Territories

"Norwegian sovereign fund exposed to human rights risks in Occupied Palestinian Territories - report",26th of April 2019

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A new research report claims there are inconsistencies in the exclusion criteria of the Norwegian sovereign fund which exposes it to human rights risk linked to its investments in companies active in the Occupied Palestinian Territories. The report, entitled “Investor Obligations in Occupied Territories: A report on the Norwegian Government Pension Fund Global” (link, Norwegian), recommends reviewing the Council of Ethics’ criteria to exclude companies in the Occupied Palestinian Territories to avoid inconsistencies andprevent human rights risks.

A spokesperson for NBIM told RI in a statement: “We read all reports with interest. We have clear expectations towards how companies manage human rights. These expectations are relevant for all companies we are invested in, independent of where they have operations. We monitor our investments and assess sustainability and social risks. We address human rights issues as part of our ownership dialogue. “The Guidelines for observation and exclusion forms the basis for recommendations from the independent Council of Ethics related to gross ethical breaches.”

 

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