High returns despite responsible investment rules – Norwegian Pension Fund yields 6.9% in 2016

The Norwegian Pension Fund (NPF) manages assets worth more than 840 billion €, constituting the largest government pension fund worldwide. The fund’s assets mainly stem from Norway’s oil revenues and are supposed to offset oil price fluctuations and maintain pensions for current and future generations.

The NPF’s ethics commission evaluates all investment options to ensure the fund’s activities are in line with the OECD Principles of Corporate Governance, the UN Guiding Principles on Business and Human Rights and the UN Global Compact.   ... →

Blackrock sues Deutsche Bank for irresponsible MBS deals

Hard on the heels of the 7.2 billion dollar settlement with the US Department of Justice regarding the selling of defective mortgage backed securities (MBS), Deutsche Bank has suffered a further setback. A New York court on Monday 23 January approved a lawsuit brought by several Deutsche Bank clients who bought MBS between 2004 and 2008.   ... →

Grupo Mexico mine spill

On 7 August 2014 40,000 cubic meters of waste water, comprising acid – laced copper sulphate and heavy minerals, spilled from a copper mine in Northern Mexico into two rivers just 40 km from the US border.  This toxic leak originated from the Beunavista Copper Mine in Cananea Sonora, operated by the mining company Grupo Mexico.   ... →

Further billion dollar lawsuit against Deutsche Bank.

In March 2014, Facing Finance reported on the gold price manipulation of the LBMA (London Bullion Market Association) consisting of five international banks, Barclays, HSBC, Société Général, Bank of Nova Scotia and Deutche Bank. Initially Duetsche Bank refuted these allegations and were clear that they would defend themselves against these allegations. A few months later, and the bank has declared will conduct an internal review into gold price manipulation, in order to avoid sanctions.   ... →

European companies involved in controversial Belo Monte dam project

The Belo Monte dam project is widely criticized for its possibly devastating effects on the environment, for endangering the livelihood of 40.000 people displacment of these people. Up to this point, it was widely believed that the project was mainly pushed forward by the Brazilian government. A report now revealed that foreign, including european companies and financial institutions indirectly own 10 percent of the project.   ... →