News

Decision on exclusion of companies from the Government Pension Fund Global (GPFG)

Norges Bank has decided to exclude the companies IJM Corp Bhd, Genting Bhd, POSCO and Daewoo International Corp from the investment universe of the GPFG. The companies are excluded base on an assessment of the risk of severe environmental damage.

The Executive Board's decision on exclusion was made on the basis of the recommendations of the Council of Ethics. The Executive Board has not conducted an independent assessment of all aspects of the recommendations, but is satisfied that the exclusion criteria have been fulfilled (see § 3, subsection c, of the Guidelines for observation and exclusion from the Government Pension Fund Global).

Before deciding to exclude a company, Norges Bank shall consider whether the use of other measures, including the exercise of ownership rights, may be better suited. The Executive Board concludes that it is not appropriate to use other measures in these cases.

For more information, contact:
Ms. Hilde Singsaas, Director of Communications
Tel. +47 99 54 19 63

 

Published 17 August 2015 10:00