Norwegian fund giant puts premium on ethical investing


cbc.ca | Published August, 18th

Norway’s $1.15 trillion Cdn sovereign-wealth oil fund announced this week that it will sell its stakes in four Asian companies over environmental concerns, underlining yet again how willing it is to take an activist approach to companies that fail to meet its ethical standards.

The mammoth fund, which is financed by profits, taxes and fees from Norway’s offshore oil and gas sector, said it would divest from South Korean steelmaker Posco, its subsidiary Daewoo International Corp., and two Malaysian companies, Genting Berhad and IJM Corporation Berhad.

■Norway’s sovereign wealth fund holds lessons for Canada
■Sovereign wealth funds: What does it take to succeed?

The sell decision came from the fund’s ethical council. It said the four companies may be responsible for environmental damage linked to the conversion of tropical forests in Indonesia into palm oil plantations.

The four companies are the latest to join a blacklist of more than 60 companies that have been excluded from the fund’s portfolio for a variety of environmental, social or governance reasons…read more>


Upcoming Events & Seminars

More Events »

Whipp Tips & News

Sweden’s largest pension fund just gave Exxon Mobil and other energy giants a stinging slap on the face

Sweden’s largest pension fund, AP7, has sold its investments in six energy companies that it says breach the Paris climate agreement

Details »

Fund Selector: ESG myths and realities

There are plenty of companies that make a positive contribution to society and the environment that have also performed extremely well.

Details »

Top UK fund manager divests from fossil fuels

Archbishop of Canterbury plays crucial role in BMO Global Asset Management’s decision to dump £20m of shares in firms such as BHP Billiton

Details »

More News »


:www.leedejonesgable.com

The information in this website was obtained from sources believed to be reliable, however, we cannot guarantee that the information is accurate or complete. The information provided is a general source of information and should not be considered personal investment advice or solicitation to buy or sell securities.

Leede Jones Gable Inc. is a
Member of IIROC and the Canadian Investor Protection Fund
Stephen Whipp is a member of the Responsible Investment Association