Decision to revoke exclusions of companies from the Government Pension Fund Global
25 June 2019
Norges Bank
has decided to revoke the exclusions of
Grupo Carso SAB de CV,
General Dynamics Corp,
Nutrien Ltd, Rio Tinto Ltd, Rio Tinto Plc, Walmart Inc and Wal-Mart de Mexico SAB de CV
from the Government Pension Fund Global.
Grupo Carso SAB de CV
was excluded from the fund in 2011 due to tobacco production. The company has made it clear for the Council on Ethics that it is no longer involved in tobacco production.
General Dynamics Corp
was excluded in 2005 due to the production of cluster munitions. The company has made it clear for the Council on Ethics that such production has been terminated.
Nutrien Ltd (previous Potash Corporation of Saskatchewan)
was excluded in 2011 after an assessment of the risk of violations of fundamental ethical norms related to the company’s operations in Western Sahara. The Council on Ethics have found that these purchases now have ceased.
Rio Tinto Ltd and Rio Tinto Plc
were excluded in 2008 based on an assessment of the risk of severe environmental damage related to the Grasberg mine in Indonesia. The company has made it clear for the Council on Ethics that it has signed an agreement to sell its interest in the mine.
Walmart Inc and Wal-Mart de Mexico SAB de CV
were excluded in 2006 based on an assessment of serious or systematic violations of human rights. The Council on Ethics has found that the grounds for exclusion are no longer present.