February 5, 2015 / 3:03 PM / 3 years ago

Norway's sovereign wealth fund steps up pressure for ethical behaviour

OSLO, Feb 5 (Reuters) - Norway’s $860 billion sovereign wealth fund, the world’s biggest, will put extra pressure on companies to behave more responsibly on social and environmental matters, its chief executive said on Thursday, targeting coal users in particular.

The fund has been accused of having too large exposure to coal by both environmental groups and some Norwegian politicians calling for the fund to revamp its portfolio..

Yngve Slyngstad told Reuters on Thursday after a presentation of the fund’s first annual report on responsible investments that it is systematically divesting companies delivering coal to power generation companies, but that it is still exposed to those using coal for steel production. (Reporting by Stine Jacobsen; Editing by Louise Ireland)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below