On the basis of advice from the Ethics Council has the fund excluded investments in the companies Cairn Energy PLC and Kosmos Energy Ltd , says Norges Bank.
According to the press release from Norges Bank, are the companies excluded after an assessment for the risk of serious violations of fundamental ethical rules.
– The companies are contributing to serious violations of basic norms of conducting petroleum offshore exploration in Western Sahara on behalf of the Moroccan authorities said the Council’s recommendation.
Western Sahara lies between Morocco, Algeria, and Mauritania and the area has been occupied by Morocco since 1975.
Source: NTB scanpix / Norway Today