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Norway sovereign wealth fund divests 9 companies from portfolio

Nuclear explosion in desert area

Norway's Government Pension Fund Global, Oslo, divested nine companies from its portfolio, including multinational companies BAE Systems Inc., Fluor Corp., AECOM and Huntington Ingalls Industries, a spokesman said.

Norges Bank Investment Management, which runs the assets of the 8.52 trillion Norwegian kroner ($1.1 trillion) sovereign wealth fund said in a news release Tuesday that its council of ethics recommended GPFG divest investments in these companies due to their involvement in nuclear weapons production.

Also, four companies — Evergreen Marine Corp. Taiwan, Korea Line Corp., Precious Shipping and Thoresen Thai Agencies — were divested from the sovereign wealth fund's portfolio because of severe environmental damage and human rights violations.

In addition, Norges Bank IM divested Polish real estate developer Atal SA due to serious concerns by the ethics council over human rights violations.

Norges Bank IM said in the news release that it continues to exclude Honeywell International Inc., which was first divested in 2006 due to its involvement in the production of weapons.