Norwegian Oil Money in Dirty Business | oaklandinstitute.org
▻http://www.oaklandinstitute.org/norwegian-oil-money-dirty-business
On October 14, 2013, the Norwegian Ministry of Finance announced its decision to exclude two Malaysian logging companies, WTK Holdings Berhad and Ta Ann Holdings Berhad, from its Government Pension Fund Global (GPFG) portfolio. Its decision, based on the recommendation made by the Council on Ethics in June and December, 2012 (see here also), has been hailed internationally, given the severe environmental damage caused by the two companies on the island of Borneo, Malaysia.
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But is the Norwegian GPFG really as responsible as it is believed to be? Is it safeguarding the values of the Norwegian people?
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What also remains unknown to many is that the GPFG owns equities in a number of companies that have been heavily criticized for unethical and environmentally unsound practices, one of them being Monsanto, where it owns $385 million worth of equities. Monsanto is internationally opposed for being at the forefront in the development and promotion of genetically modified organisms (GMOs), and for its notorious practice of suing hundreds of small family farmers in the US whose fields have been contaminated by Monsanto seeds.
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Furthermore, the GPFG invests in 90 of the 100 largest oil companies in the world, and 68 of the 100 largest coal companies. This contradicts the Norwegian government’s stated goal of fighting climate change. One such investment includes Royal Dutch Shell, a company harshly criticized by the UN for causing severe damage to the environment and the people of the Niger delta over the last 50 years.
#Norvège #éthique_en_toc #énergie signalé par @fil