Monday, March 18, 2019

Norges Bank excludes Halcyon Agri Corp. Ltd From Pension Fund Global Investment Universe Due to Unacceptable Risk of Severe Environmental Damage in Cameroons: Council Recommendation Follows

On 24 October 2018, the Council on Ethics recommended to exclude the company due to an unacceptable risk that the company is responsible for severe environmental damage as a result of its conversion of tropical forest into rubber plantations in Cameroon.

The Council attached importance to the risk that the plantation could damage the universal values of the Dja Faunal Reserve, which is UNESCO World Heritage Site.
On 18 March, 2019, Norges Bank published its decision to follow the Council on Ethics’ recommendation. 

Please find the Announcement of the Council's recommendation here

The Council's 13 page recommendation may be accessed HERE and below. 

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