Norges Bank Investment Management (NBIM) has excluded a further four companies from the Government Pension Fund Global (GPFG).
The Executive Board has decided to exclude the companies China Traditional Chinese Medicine Holdings Co Ltd, Beijing Tong Ren Tang Chinese Medicine Co Ltd, Tong Ren Tang Technologies Co Ltd, and China Grand Pharmaceutical and Healthcare Holdings Ltd.
This is due to the unacceptable risk that the companies contribute to serious environmental damage, ref. the conduct-based criteria in section 3 (1) (c) of the Guidelines for Observation and Exclusion from the Government Pension Fund Global. The decisions are based on recommendations from the Council on Ethics of 15 March 2021 and 28 April 2021.
The Executive Board has also decided to revoke the exclusion of Hanwha Corp. The company has been excluded since 2008 due to the production of cluster munitions. The decisions are based on a recommendation from the Council on Ethics of 27 May 2021. The Council on Ethics has stated that Hanwha Corp no longer has any activities related to the production of cluster munitions and that the company has confirmed this.
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. 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.
Latest News
-
Finland’s Velliv sees customers return up to 14.8% in 2021
-
NBIM invests £220m in logistics property portfolio
-
DWP under scrutiny over 'shameful shambles' on state pension underpayments
-
News in brief: 21 January
-
UK's Gallaher Pension Scheme concludes £1.7bn buy-in
-
Narrowing of gender pensions gap in Denmark slows in 2020
Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.
In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.
In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.
Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors
Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?
In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.
In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.
Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows
Europe’s pensions challenges
Francesca Fabrizi meets Matti Leppälä, Secretary General and CEO of PensionsEurope, to discuss the key aims and objectives of the association today.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories