Norway’s largest pension fund divests from 14 arms firms
Norway’s largest pension fund said on Thursday that it has divested from 14 nuclear and regular arms-producing companies.
Oslo-based KLP said it made the decision after reviewing its ethical criteria on weapons.
“This will primarily mean companies that produce certain types of weapons which, by their nature, violate fundamental humanitarian principles,” the fund said in a statement.
“The criterion applies mainly to nuclear weapons and cluster munitions, as well as anti-personnel mines,” it said in a statement.
Which companies is KLP divesting from?
As of this month, KLP won’t do business with companies including Britain’s Rolls Royce Holdings PLC, Massachusetts-based Raytheon Technologies Corp. and France’s Thales.
KLP is also divesting from UK-based Babcock International, China Shipbuilding Industry, Dassault Aviation, Elbit Systems, General Dynamics, KBR, L3Harris Technologies, Larsen & Toubro, Leidos Holdings, Leidos Inc and Leonardo.
Two of the companies — Elbit Systems and Leonardo — have already been excluded by KLP for other reasons.
The exclusions mean that KLP has sold shares worth just over 1 billion Norwegian crowns ($117.50 million, €101.8 million) and debt securities in the form of bonds worth about 200 million crowns, the company said.
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