Brief by Shorts91 Newsdesk / 06:46am on 18 May 2024,Saturday Business
Norges Bank, Norway's central bank, has excluded Adani Ports and Special Economic Zone (APSEZ) from its Government Pension Fund Global due to the company's "unacceptable risk" of contributing to human rights violations in war and conflict zones. The decision follows a recommendation from the Council on Ethics and ends APSEZ's observation period since March 2022. APSEZ, part of the Adani Group, operates ports and port services. Two other companies, Weichai Power Co Ltd and L3Harris Technologies Inc, have also been excluded. The Norwegian Government Pension Fund Global is one of the world's largest, owning 1.5% of all shares in listed companies.
