Press release

First coal exclusions from the Government Pension Fund Global

Norges Bank has decided to exclude 52 companies from the Government Pension Fund Global after an assessment of companies and the new product-based coal criterion in the guidelines.

Norges Bank has decided to exclude 52 companies from the Government Pension Fund Global after an assessment of the new product-based coal criterion. The exclusions follow a first round of analysis by Norges Bank Investment Management. Further exclusions will follow in 2016.

Norges Bank’s Executive Board made the exclusion decision based on recommendations from Norges Bank Investment Management. The Executive Board has found that the recommendations satisfies the exclusion criteria and that the companies can be excluded from the fund (see § 3, subsection f, of the Guidelines for observation and exclusion from the Government Pension Fund Global).

Read the grounds for decision on product based coal exclusion at nbim.no

Name Country
Aboitiz Power Corp Philippines
AES Corp/VA United States
AES Gener SA Chile
ALLETE Inc United States
Ameren Corp, including bonds issued by United States
               Union Electric Co (d/b/a Ameren Missouri) United States
American Electric Power Co Inc, including bonds issued by United States
               Appalachian Power Co United States
               Indiana Michigan Power Co United States
Capital Power Corp Canada
CESC Ltd India
China Coal Energy Co Ltd China
China Power International Development Ltd China
China Resources Power Holdings Co Ltd China
China Shenhua Energy Co Ltd China
CLP Holdings Ltd Hong Kong
Coal India Ltd India
CONSOL Energy Inc United States
Datang International Power Generation Co Ltd China
Drax Group PLC United Kingdom
DTE Energy Co United States
Dynegy Inc United States
E.CL SA Chile
Exxaro Resources Ltd South Africa
FirstEnergy Corp United States
Gujarat Mineral Development Corp Ltd India
Hokkaido Electric Power Co Inc Japan
Huadian Power International Corp Ltd Hong Kong
Huaneng Power International Inc China
IDACORP Inc United States
Lubelski Wegiel Bogdanka SA Poland
MGE Energy Inc United States
New Hope Corp Ltd Australia
NTPC Ltd India
Okinawa Electric Power Co Inc/The Japan
Peabody Energy Corp United States
PNM Resources Inc, including bonds issued by United States
                Public Service Co of New Mexico United States
Public Power Corp SA Greece
Reliance Infrastructure Ltd India
Reliance Power Ltd India
Shikoku Electric Power Co Inc Japan
Tata Power Co Ltd India
TransAlta Corp Canada
WEC Energy Group Inc, including bonds issued by United States
                 Wisconsin Electric Power Co United States
Whitehaven Coal Ltd Australia
Xcel Energy Inc, including bonds issued by United States
                 Northern States Power Co MN United States
                 Public Service Co of Colorado United States
                 Southwestern Public Service Co United States
Yanzhou Coal Mining Co Ltd China

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Marthe Skaar
Manager, Communications and External Relations
Phone: +47 2407 3561/ +47 926 17 663

Thomas Sevang
Head of Communications and External Relations
Tel: +47 2407 3276/ +47 926 01 756

Email: press@nbim.no

Published 14 April 2016 12:00