Norway bars its pension fund from investing in Dongfeng Motor, due to sale of military trucks to Burma

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14 March 2009

[PDF] Recommendation to the [Norwegian] Ministry of Finance [on Dongfeng]

Author: Council on Ethics - Government Pension Fund, Global

As of December 31st, 2007, the Government Pension Fund – Global held equities issued by the Chinese company Dongfeng Motor Group Co Ltd. to the value of NOK 32 356 000. The Council on Ethics recommends that Dongfeng Motor Group Ltd. be excluded from the Fund’s investment universe because the company sells military equipment to the government of Burma.

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Author: AFP

Le fonds de pension public norvégien...a vendu ses parts dans la société chinoise Dongfeng Motor, accusée d'avoir fourni du matériel militaire au régime paria de Birmanie...Impliqué dans une série d'affaires de corruption, le conglomérat allemand Siemens a, quant à lui, été placé sous observation...

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Article
13 March 2009

Norway bans Dongfeng From oil fund; Siemens on watch

Author: Marianne Stigset, Bloomberg

Norway barred its oil fund…from investing in…Dongfeng Motor on a recommendation from the Council on Ethics because of sales of military trucks to Myanmar…Company spokesman Hu Xindong said no one could comment…and deferred questions to Monday…Norway set up rules in 2004 to ensure the fund doesn’t invest in companies involved in human rights abuses, environmental damage, or the production of some weapons...“We can’t finance companies that support the military dictatorship in Burma through the sale of military materials,” [Finance Minister] Kristin Halvorsen said in the statement.

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