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Exclusion of coal companies and companies involved in coalbased activities will have no or at best a minor effect on the worlds GHG emissions However when investors like KLP choose to divest from coal it sends an important signal on future financing of such projects and is an incentive for companies
May 14 2020 These new exclusions are the first application of these coal requirements The fund held stocks worth 16bn in companies that were excluded by the new rules as of the end of 2019 The fund has also put another set of companies including BHP under observation for possible exclusion
The fund put another set of companies BHP Uniper Enel and Vistra Energy under observation for possible exclusion later if they did not address their use or production of coal The value of holdings in this group stood at 39 billion at the end of 2019
It placed 11 companies including Endesa SA and The Southern Co under observation for possible exclusion Further exclusions will follow in 2017 NBIM said in the statement
to Norges Bank on observation and exclusion of companies from the Norwegian Government Pension Fund Global Council on Ethics for the Norwegian Government Pension Fund Global ANNUAL REPORT 2018 3 Contents such as the production of tobacco coal or certain types of weapons and conduct based exclusion criteria such as
KLP said exclusion of coal companies and companies involved in coalbased activities will have no or at best a minor effect on the worlds greenhouse gases emissions
Exclusion as the last resort Excluding a company from our fund portfolio is always the last resort However Nordea Asset Management never invests in companies that manufacture biological and chemical weapons antipersonnel mines cluster bombs andor nuclear weapons as we in no way consider this to a good investment either for investors or society at large
May 13 2020 Another set of companies BHP Uniper Enel and Vistra Energy were put under observation for possible exclusion at a later stage if they do not address their use or production of coal
The criterion states that coal power companies and mining companies who themselves or through other operations they control base 30 or more of their activities on coal andor derive 30 of their revenues from coal may be excluded from the GPFG In the process of considering recommendations for exclusion or observation of companies that
Companies excluded in 2017 Coal companies December 2017 Coal companies June 2017 Scandinavian Tobacco Group Decision to exclude ETP Phillips 66 Enbridge and Marathon Petroleum Companies excluded in 2016 Announcement December 22nd 2016 Press release Coal companies December 2016 Duke Energy change in basis for exclusion Eletrobras
Dec 21 2016 Norways 870 billion sovereign wealth fund expanded the list of miners and power producers excluded from its portfolio as it continues to cull its investments of coalrelated businesses
Exclusion of coal companies and companies involved in coalbased activities will have no or at best a minor effect on the worlds GHG emissions However when investors like KLP choose to divest from coal it sends an important signal on future financing of such projects and is an incentive for companies
Fund excludes companies derive 30 per cent or more of their income from thermal coal or base 30 or more of their operations on thermal coal we consider both exclusion and under observation companies for this study8 The Government Pension Fund of Norway is adopting the most visionary
The bank has also placed a further four companies on an observation list BHP Group Vista Energy Group Enel SpA and Uniper SE The exclusions are based on a new absolute threshold for coal companies that were added to guidelines for the fund last year following the Norwegian parliaments discussion of White Paper 20
The Expert Group shall evaluate whether the exclusion of coal and petroleum companies is a more effective strategy for addressing climate issues and promoting future change than the exercise of ownership and exertion of influence The Group shall also advise on possible criteria for the potential exclusion of these types of companies
May 15 2020 2 Observation or exclusion may be decided for mining companies and power producers which themselves or through entities they control a derive 30 per cent or more of their income from thermal coal
Stockholm NordSIP Norges Bank Investment Management which manages investments of the giant Government Pension Fund Global continues to eliminate has decided to exclude 10 companies from the Government Pension Fund Global based on the productbased coal criterion in the guidelines for observation and exclusion
Observation and exclusion of companies Norges Banks Executive Board 29092017 Uw appeltje voor de dorst 5 van 7 Genting Bhd 17 August 2015 POSCO 17 August 2015 Daewoo International Corp 17 August 2015 Vedanta Ltd 30 January 2014 previously called Sesa Sterlite into which Madras Aluminium Company and Sterlite Industries Ltd both excluded 31 October
Mar 22 2018 Following new criteria the Ministry of Finance added to the guidelines for observation and exclusion which related to mining companies that derive 30 or more of their income and power companies that base 30 of their power on thermal coal the latest report listed new companies excluded from investments due to thermal coal mining or coal
The bank has excluded 10 companies from the Government Pension Fund Global based on its coal guidelines for observation and exclusion The observation and exclusion decisions have been made based on recommendations from Norges Bank Investment Management which conducted third round of analysis of companies that may be affected by this criterion
Mar 14 2019 The exclusion of such companies producing thermal coal and generating electricity from coal was announced on Thursday and will come into effect at the start of next year as part of the funds
Dec 21 2016 Norges Bank the ultimate parent of Norway Government Pension Fund Global GPFG has decided to exclude 15 new companies from its sovereign fund based on the productbased coal criterion in the guidelines for observation and exclusion In addition the exclusion will affect all the companies subsidiaries that issue bonds However if the companies issue green
11 Investments and use of policy mechanisms in coal and petroleum companies 111 Summary On 4 April 2014 the Ministry of Finance appointed an expert group whose remit was to assess the Norwegian Government Pension Fund Globals GPFG investments in coal and petroleum companies and the use of policy mechanisms relating to such companies
May 13 2020 RWE and Glencore have been dropped for surpassing the funds coal revenue and production thresholds Vale has been excluded for contributing to severe environmental damage as a result of repeated dam breaches A further four companies have been placed on the funds observation list for future exclusion
The fund put another set of companies BHP Uniper Enel and Vistra Energy under observation for possible exclusion later if they did not address their use or production of coal
Jul 10 2018 Decisions about exclusion The Executive Board in Norges Bank has decided to exclude the companies PacifiCorp and TriState Generation and Transmission Association Inc based on an assessment of the productbased coal criterion in the Guidelines for observation and exclusion 2 2 The Executive Board has also decided to exclude the companies JBS SA due to an unacceptable
A company can be excluded in two ways Productionbased excelutions and Conductbased exclutions 1 Productionbased exclusions We exclude companies that produce or distribute tobacco controversial weapons and recreational cannabis We also exclude companies with significant revenue from coal and oil sands and unsustainable palm oil production
Guidelines for observation and exclusion from the Government Pension Fund Global Companies that generate more than 30 per cent of their output or revenue from coalrelated activities is the latest criteria for investment exclusion by the Government Pension Fund Global It is the ninth such criteria with the others outlined below
The inhouse manager for Norways Government Pension Fund Global Oslo has excluded 10 companies based on its coal guidelines for observation and exclusion
The fund put another set of companies BHP Uniper Enel and Vistra Energy under observation for possible exclusion later if they did not address their use or production of coal
The Council on Ethics for the Government Pension Fund Global GPFG is an independent council appointed by the Norwegian Ministry of Finance and makes recommendations to exclude companies from the fund or put companies under observation The Council makes its recommendation following a specific assessment of a companys operations based on
So far 69 companies have been put on the exclusion list and two on observation Vedanta Resources Plc UKbased Vedanta Resources Plc first excluded in 2007 once again made its way to the
The exclusion process is highly extensive It involves both internal and external data and evaluations conducted by experts in the field Excluded companies are removed from Storebrands investment universe which is an investment ecosystem that consists of over 4000 companies
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