Norges Bank excludes three companies from SWF
Central bank sanctions firms due to human rights and environmental violations
Norges Bank has excluded three companies from the portfolio of Norway’s sovereign wealth fund, the central bank said on January 17. The decision is based on human rights and environmental violations.
Texwinca Holdings is a Chinese company that produces yarn, knitted fabrics and garments. The council of ethics of the Government Pension Fund Global (GPFG) recommended its exclusion due to the poor practices of Megawell Industrial, which is 50% owned by Texwinca.
The council pointed to “systematic
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