Norway’s Government Pension Fund Global (GPFG) has pulled investments in more than 33 palm oil companies because of their links to deforestation. Norway has the world’s largest sovereign wealth fund at $1 trillion. According to Arab News, The GPFG has become a more active shareholder and now pushes sustainability and ethics amongst its investments. This has come as a welcome to green groups, who have previously criticised Norway of double standards for its cash reward schemes to countries for stopping deforestation, while investing in palm oil companies at the same time. Last week Forests News’ ‘Headlines’ reported of Norway’s first pay-out to Indonesia, as it achieved a first-time deforestation slow-down in 2017.
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