Christchurch shootings, tighter firearm laws make for a quick decision from fund’s guardians.
Christina Paxson says endowment is ‘not a political instrument.’
The pension plan’s stance also means it won’t likely voluntarily divest from GEO Group and CoreCivic.
Research shows that 54% of divestitures underperformed the markets since 2010.
Norway’s pension giant has divested from 240 firms since 2012.
Fund divests one company due to human rights violations, and two for coal activities.
Selling of nukes, tobacco, coal and oil sands holdings follows new law, plus actions of sister fund.
ESG-oriented decision motivated by new law.
Nokia, Nordea Bank lead list of 13 firms with potential ties to African nation.
The vote to divest from CoreCivic and GEO Group was 6-5 during an emotional meeting.