Skip to content

Mining company excluded from the Government Pension Fund — Global due to contribution to serious environmental damage

090205_porgeramine.jpgBased on a recommendation from the Council on Ethics for the Government Pension Fund — Global, the Ministry of Finance has excluded the Canadian mining company Barrick Gold Corporation from the Fund. Barrick mines for gold in the Porgera mine in Papua New Guinea. The recommendation is based on the assessment that investing in the company entails an unacceptable risk of the Fund contributing to serious environmental damage.“Pursuant to the Ethical Guidelines, the Government Pension Fund — Global should not invest in companies that cause severe environmental damages. In its assessment, the Council on Ethics concluded that Barrick Gold Corporation is causing severe environmental damages as a direct result of its operations. I have therefore decided to follow the Council on Ethics’ recommendation on exclusion of Barrick Gold Corporation from the investment universe of the Fund,” says Minister of Finance Kristin Halvorsen. > Continue.

News selected by Covalence | Country: Global | Company: Barrick Gold | Source: Ministry of Finance of Norway

 

Back To Top