EnergyWatch

Norwegian sovereign wealth fund presents new requirements for shipping and offshore

The world's largest investor, Norway's national oil fund, has presented a number of new requirements, which they believe shipping and offshore companies must live up to in order to save the oceans. Here are the requirements companies may face.

Norges Bank, which manages the world's largest investment fund, the Government Pension Fund Global, has once again tightened demands for shipping and offshore. Just a few months ago, the so-called Etikkrådet (Council on Ethics), which advices the bank on investments, advised the bank not to invest in certain carriers due to these using the widely criticized beaching method when scrapping vessels.

Now, Norges Bank Investment Management, which is the more precise name of the unit, has presented a more overall list of requirements for the two sectors. In principle, the new requirements concern all companies working with the ocean in one way or another that have the fund as investors or may get them as investors.

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