Recommendations on exclusion of companies pursuant the Government Pension Fund’s Ethical Guidelines are based on two fundamental prerequisites as outlined in the guidelines’ preparatory work: First, there must be a connection between the company’s operations and the relevant violations. Second, there must be an unacceptable risk for the company, and thus also, for the Fund, of contributing to future violations. The Council thus ssumes that the fact that a company has operations in states controlled by repressive regimes does not, in itself, constitute sufficient grounds to exclude a company from the Fund...[refers to PetroChina, Total, Daewoo, Doosan Infracore (part of Doosan Group]