Norway Follows UNPRI With EUR 2.3 Billion Environmental Initiative

The Norwegian government has outlined plans that could see it allocate a huge NOK20billion (EUR2.3billion) portion of the assets of the EUR260billion Norwegian Government Pension Fund into environmental investing and a potential programme aimed at sustainable growth assets in emerging

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The Norwegian government has outlined plans that could see it allocate a huge NOK20billion (EUR2.3billion) portion of the assets of the EUR260billion Norwegian Government Pension Fund into environmental investing and a potential programme aimed at sustainable growth assets in emerging markets over five years, Responsible Investor reports.

The report by the Ministry of Finance also recommended that the pension fund exclude tobacco manufacturers from its portfolios. Other major recommendations include the introduction of a public watch-list for companies the fund considers could be in breach of international human and labour rights standards.

Additionally, in a significant boost to the United Nations Principles of Responsible Investment (UNPRI), the Norwegian Ministry of Finance said it would become the first government entity to become a signatory as de facto owner of the Government Pension Fund assets.

L.D.

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