The $1.4 trillion pension giant also placed U.K.-based Petrofac on observation over allegations of corruption and bribery.
Pension fund accuses AviChina, Bharat Electronics of selling military equipment to Myanmar’s armed forces.
Norway’s sovereign wealth fund, which has been divesting coal and oil stocks, has the Australian company on a kind of probation.
UK’s largest pension plan will shun investments, like tobacco and coal, it deems ‘financially unsuitable.’
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However, weak krone erases over $438 million in value from now-excluded holdings.
Fund says rubber company’s plantations will lead to irreversible changes in the ecosystem.