Norwegian SWF pulls out of several forestry investments

The fund began divesting from palm oil companies in 2012, and by the end of 2013 had exited from 27.

Norway’s NK7,475 billion ($878-billion; €800 billion) sovereign wealth fund, Government Pension Fund Global, pulled out of investments in seven companies last year. The fund was concerned they were involved in clearing tropical rainforest for forestry or palm oil plantations.

“We have divested from a number of companies in recent years following assessments of environmental, social and governance related risk factors,” fund spokeswoman Marthe Skarr told Agri Investor.

Reports that said the fund had divested from 11 companies were not accurate, she said. “Our approach to responsible investment management may in some cases lead to divestments from companies where we see elevated long-term risks,” she said.

Read more by visiting http://www.agriinvestor.com.