Norway’s central bank announced that its executive board has decided to exclude three companies from its government pension fund over ethical concerns. Norges Bank, which manages the sovereign wealth fund, said in a statement it has decided to exclude India’s Adani Ports and Special Economic Zone, L3Harris Technologies and China’s Weichai Power.
Norges Bank said it decided to exclude Adani Ports due to ‘unacceptable risk that the company contributes to serious violations of individuals’ rights in situations of war or conflict.’ Billionaire Gautam Adani’s port major was on the central banks’ watchlist for possible exclusion from investment since March 2022, according to news agency Reuters.
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Published: 16 May 2024, 07:49 PM IST