Norges Bank Investment Management (NBIM) has revoked the exclusion of Petroleo Brasileiro SA (Petrobras) on behalf of the country’s Government Pension Fund Global (GPFG).
Petrobas was initially placed under observation by NBIM in 2016 due to the risk of severe corruption.
“The Executive Board’s decision to revoke the observation was made on the basis of a recommendation from the Council on Ethics, which regularly shall assess whether the basis for observation or exclusion still exists,” NBIM stated.
The Council on Ethics believes that the risk of corruption is now reduced. This assessment is based, among other things, on the legal settlement with the US authorities, which confirms that Petrobras has implemented comprehensive improvement measures since the investigation began in 2014.
Latest News
-
EIOPA issues opinion on supervision of IORPs’ exposure to liquidity risks
-
Consolidation remains key in Irish Pensions Authority’s five-year plan
-
UK DC schemes ‘swimming against tide’ of global ESG backlash
-
Germany still holding on to pronounced pensions gap, research finds
-
News in brief: 11 July
-
UK DB funding levels remain strong in June; individual companies funding levels vary
Podcast: Stepping up to the challenge
In the latest European Pensions podcast, Natalie Tuck talks to PensionsEurope chair, Jerry Moriarty, about his new role and the European pension policy agenda
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.
Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories