The Norwegian central bank on Thursday excluded two oil and gas companies from its $1.4-trillion wealth fund, the world's largest, citing ethical concerns over their ties to the Myanmar military.
The two were excluded due to"unacceptable risk that companies contribute to serious violations of individuals’ rights in situations of war or conflict," the fund said. GAIL did not respond to a Reuters request for comment after market hours. Korea Gas Corp could not be immediately reached. At the end of last year, the fund held $5.5 million worth of shares in KOGAS, representing 0.21 per cent of the outstanding shares, according to the fund's filings.
Source: News Formal (newsformal.com)
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