hide message

Welcome to the Resource Centre

We make it our mission to work with advocates in civil society, business and government to address inequalities of power, seek remedy for abuse, and ensure protection of people and planet.

Both companies and impacted communities thank us for the resources and support we provide.

This is only possible because of your support. Please make a donation today.

Thank you,
Phil Bloomer, Executive Director

Donate now hide message

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/norway-oil-fund-to-exclude-cos-due-to-environmental-human-rights-risks-0#c167088

Norway: Oil fund to exclude co's due to environmental & human rights risks

Author: Dominic Chopping, Fox Business, Published on: 16 January 2018

Norges Bank Investment Management, the arm of Norway's central bank that manages the country's $1.1 trillion oil fund, said Tuesday that it has excluded a further nine companies from the fund on ethical grounds...

The Norwegian Ministry of Finance has issued specific guidelines for the oil fund with criteria for observation and exclusion endorsed by Norway's parliament. 

These criteria say the fund must not invest in companies which produce weapons that violate fundamental humanitarian principles through their normal use, produce tobacco, or sell weapons or military material to certain countries...

Further exclusions [were] announced [...] due to the "risk of severe environmental damage and serious or systematic violations of human rights." ...

There are currently over 140 companies excluded from the fund and around 20 under observation. [also refers to BAE Systems PLC, AECOM, Fluor Corp., Huntington Ingalls Industries Inc., Honeywell International Inc., Evergreen Marine Corp (Taiwan) Ltd, Korea Line Corp., Precious Shipping PCL and Thoresen Thai Agencies PCL]

Read the full post here

Related companies: Norges Bank Investment Management (NBIM)