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Norway's wealth fund to exclude 3 more firms on ethical grounds
January 30, 2014 / 8:22 AM / 4 years ago

Norway's wealth fund to exclude 3 more firms on ethical grounds

OSLO, Jan 30 (Reuters) - The Norwegian finance ministry has instructed for the second time the Nordic country’s $810 billion wealth fund to exclude Africa Israel Investments and its construction subsidiary Danya Cebus from its investments, it said on Thursday.

The firms were first excluded from the fund in 2010 on the recommendation of its ethics council as they were involved in the building of Israeli settlements in the West Bank. The fund was allowed again to invest in them last August.

A third company, Sesa Sterlite, India’s biggest zinc and aluminium maker and a subsidiary of Vedanta Resources , was also excluded from the fund. The fund cannot invest in Vedanta for ethical reasons and that now applies to its subsidiary.

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