Next up, the fund will begin shorting anything to do with cod or brown cheese and the transformation will be complete.
From Bloomberg via gCaptain:
Norway’s wealth fund dumped a series of companies involved in making nuclear weapons and excluded others based on human rights concerns as the $1.1 trillion investor steps up its scrutiny over how corporations behave.
AECOM, BAE Systems, Fluor Corp. and Huntington Ingalls Industries Inc. were excluded “because of their involvement in the production of nuclear weapons,” the central bank, which oversees the fund, said in a statement. An exclusion of Honeywell International Inc. was maintained on this criterion.
The world’s largest wealth fund takes into account ethical rules encompassing human rights, some weapons production, corruption, the environment, coal and tobacco when deciding on its investments. The fund sells its stakes before it announces an exclusion....MORE