The oil fund has lost billions on not investing in tobacco companies

The oil fund has lost billions on to drop tobaccoTobacco.Photo:pixabay.com

That the oil fund does not own any tobacco companies have reduced its return on investment with 16 billion kroner over the last nine years.

Other ethical evaluations havecost the Fund about as much.

According to the Financial Times  the governmental  global pension fund , popularly known as the oil Fund,  has lost 1.94 billion dollars in returns in not investing in tobacco in the years 2006 to 2015. This means the total loss from the   ethical investment decisions of the oil fund  is almost at 30 billion kroner, Dagens Næringsliv writes .

The oil fund has over the past ten years  pulled out of a number of companies because of its code of ethics. The companies in question include tobacco companies, certain arms manufacturers and companies that may be considered to be involved in forced child labor.

 

Source: NTB scanpix / Norway Today

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