Norway: government dumps Wal-Mart stock

From Aftenposten daily (Norway):

Norway dumps Wal-Mart stock

The huge fund that’s meant to preserve Norway’s oil wealth for future generations is pulling out of shares that don’t meet the government’s ethical standards.

Among them is the Wal-Mart discount store chain.

Norwegian Finance Minister Kristin Halvorsen revealed Tuesday that two new stocks will be banned from the country’s so-called “oil fund,” which now is called the Norwegian Government Pension Fund – Global and currently is worth about USD 250 billion.

It ranks as one of the biggest pension funds in the world.

The ministry reported that it’s excluding Wal-Mart Stores Inc, Wal-Mart de Mexico and Freeport McMoRan Copper and Gold Inc from the fund “in line with recommendations from the Council on Ethics for the Fund.”

Strike at Wal-Mart in Britain, Asda: see here.

And here.