OSLO, Mar 6 (Reuters): Norway's US $1-trillion sovereign wealth fund, the world's largest, has earned less money because of divestments it has made over the past twelve years due to ethical and environmental considerations, it said on Tuesday.
The fund funnels the proceeds of Norway's oil and gas production. It invests in around 9,100 companies worldwide and holds on average 1.4 per cent of global listed shares.
It is forbidden by law from investing in firms that produce nuclear weapons or landmines, or are involved in serious and systematic human rights violations, among other criteria.
The fund returned 1.6 percentage points less between 2006 and 2017 as a result of exclusions of companies on ethical grounds, according to a report on return and risk it published.
Norway's $1.0tr wealth fund earns less money due ethical profile
FE Team | Published: March 06, 2018 22:42:26
Norway's $1.0tr wealth fund earns less money due ethical profile
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