The Council of Ethics for the Norwegian Government Pension Fund Global, one of the largest investors worldwide, has issued recommendations to exclude 6 more companies from the investment portfolio.
Its annual report 2014 and the corresponding website give details on the recommendations concerning the following companies:
- Noble Group (Hongkong; severe environmental damage through the conversion of tropical rainforest into oil-palm plantations, 26.6.2013)
- China Ocean Resources (Hongkong; Loss of biodiversity through in illegal fishing and its targeted catching of endangered species, 8.11.2013)
- Tahoe Resources Inc. (Kanada/USA; serious human rights violations through its mining activities in its Escobal mine, Guatemala, 8.4.2014)
- Innophos Holdings Inc. (USA; serious violations of fundamental ethical norms through the purchase of phosphate from Western Sahara, 26.9.2014)
- China Railway Group Ltd. (China; paying bribes to government officials for contracts regarding construction of railways and housing, 14.10.2014)
- National Thermal Power Company Ltd. (Indien; severe environmental damage through the construction and planned management of coal fuelled power plant in Bangladesh, 3.12.2014)
The Pension Fund is still considering the recommendations.
- Ownership according to morningstar.com of Noble Group; Tahoe Resources; Innophos; China Railway Group
- Mutual funds according to onvista holding Noble Group; Tahoe Resources; Innophos; China Railway Group