Norway fund blocks companies

OSLO (Reuters) — Norway’s US$871 billion sovereign wealth fund has excluded two South Korean and two Malaysian companies from its investments, accusing them of turning tropical forests into palm oil plantations.

IJM Corp Bhd and Genting Bhd, of Malaysia, and POSCO and Daewoo International Corp of South Korea, were removed following a recommendation by the fund’s council of ethics. The Norwegian Government Pension Fund Global is the world’s top sovereign wealth fund.

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