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Norway’s state pension fund wise to water risk

Author: Valeria Criscione, Financial Times , Published on: 23 August 2009

The Norwegian government pension fund has added yet another cause to its range of shareholder activism: sustainable water management…The…fund has released a draft proposal on the subject that will guide the way Norges Bank Investment Management, the manager of the fund, exercises its ownership rights.… The policy is particularly aimed at companies with operations in sectors and regions that are exposed to water scarcity, water pollution and water-related risk…the food industry, agriculture, pulp and paper, pharmaceuticals, mining, manufacturing and power production, and the water supply industry…Anne Kvam, head of corporate governance at NBIM [said] “We believe that investors should receive sufficient information to be able to assess how risk related to water scarcity, regulations and higher water purifications costs can affect a company’s profits.”… The initiative…follow[s] similar campaigns focusing on children’s rights and climate change management... The fund successfully used this strategy with Monsanto…to reduce the use of child labour in the company’s cotton seed production in India. [also refers to Bayer, Syngenta, Dupont]

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Related companies: Bayer DuPont Monsanto (part of Bayer) Norges Bank Investment Management (NBIM) Syngenta