Companies Excluded from the Investment Universe

Production of weapons that through their normal use may violate fundamental humanitarian principles

Anti-personnel land mines
- Singapore Technologies Engineering (26 April 2002)

Production of cluster munitions
- Alliant Techsystems Inc (31 August 2005)
- General Dynamics corporation (31 August 2005)
- L3 Communications Holdings Inc (31 August 2005)
- Lockheed Martin Corp (31 August 2005)
- Raytheon Co. (31 August 2005)
- Poongsan Corporation (30 November 2006)
- Hanwha Corporation (31 December 2007)
- Textron Inc. (31 December 2008)

Production of nuclear arms
- BAE Systems Plc (31 December 2005)
- Boeing Co. (31 December 2005)
- EADS Co (31 December 2005)
- EADS Finance BV (31 December 2005)
- Finmeccanica Sp. A. (31 December 2005)
- Honeywell International Corp. (31 December 2005)
- Northrop Grumman Corp. (31 December 2005)
- Safran SA. (31 December 2005)
- Gen Corp. Inc. (31 December 2007)
- Serco Group Plc. (31 December 2007)


Sale of weapons and military material to Burma
- Dongfeng Motor Group Co Ltd. (28 February 2009)


Production of tobacco
- Alliance One International Inc. (31 December 2009)
- Altria Group Inc. (31 December 2009)
- British American Tobacco BHD (31 December 2009)
- British American Tobacco Plc. (31 December 2009)
- Gudang Garam tbk pt. (31 December 2009)
- Imperial Tobacco Group Plc. (31 December 2009)
- ITC Ltd. (31 December 2009)
- Japan Tobacco Inc. (31 December 2009)
- KT&G Corp (31 December 2009)
- Lorillard Inc. (31 December 2009)
- Philip Morris International Inc. (31 December 2009)
- Philip Morris Cr AS. (31 December 2009)
- Reynolds American Inc. (31 December 2009)
- Souza Cruz SA (31 December 2009)
- Swedish Match AB (31 December 2009)
- Universal Corp VA (31 December 2009)
- Vector Group Ltd. (31 December 2009)


Actions or omissions that constitute an unacceptable risk of the Fund contributing to:

Serious or systematic human rights violations
- Wal-Mart Stores Inc. (31 May 2006)
- Wal-Mart de Mexico SA de CV (31 May 2006)

Severe environmental damages
- Freeport McMoRan Copper & Gold Inc. (31 May 2006)
- Vedanta Resources Plc. (31 October 2007)
- Sterlite Industries Ltd. (31 October 2007)
- Madras Aluminium Company (31 October 2007)
- Rio Tinto Ltd. (30 June 2008)
- Rio Tinto Plc. (30 June 2008)
- Barrick Gold Corp (30 November 2008)
- Norilsk Nickel (31 October 2009)
- Samling Global Ltd. (23 August 2010) 


Other particularly serious violations of fundamental ethical norms
- Elbit Systems Ltd. (31 August 2009)

Serious violations of the rights of individuals in situations of war or conflict
- Africa Israel Investments Ltd. and Danya Cebus Ltd. (23 August 2010) 

___________________________

Companies that have been excluded, but where the decision to exclude has later been revoked are listed separately.

All recommendations for exclusion and decisions to exclude or to revoke previous decisions to exclude, are listed here (latest first).

 

23.08.2010

Africa Israel Investments Ltd. 
Danya Cebus Ltd.
Samling Global Ltd.
The press release from the Ministry of Finance
The recommendation from the Council on Ethics (Africa Israel Investments Ltd. and Danya Cebus Ltd.)
The recommendation from the Council on Ethics (Samling Global Ltd.)


 

02.03.2010

Exclusion of United Technologies Corp. reversed
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

20.01.2010 17 tobacco producers excluded
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

19.11.2009

Norilsk Nickel
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

03.09.2009 Elbit Systems Ltd
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

13.03.2009 Dongfeng Motor Group Co. Ltd 
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

30.01.2009

Textron Inc.
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

30.01.2009

Barrick Gold Corporation
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

09.09.2008

Rio Tinto Ltd.
Rio Tinto Plc.
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

11.01.2008

Hanwha Corporation
Serco Group Plc
GenCorp Inc 

The press release from the Ministry of Finance
The recommendation from the Council on Ethics (Hanwha Corporation)
The recommendation from the Council on Ethics(Serco Group Plc)
The recommendation from the Council on Ethics(GenCorp Inc)

 

09.11.2007

Vedanta Resources Plc.
Sterlite Industries Ltd.
Madras Aluminium Company Ltd.

The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

03.09.2009 Exclusion of DRD Gold Limited reversed
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

11.04.2007

DRD Gold Limited
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

06.12.2006

Poongsan Corporation
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

06.06.2006

Wal-Mart Stores Inc
Wal-Mart de Mexico SA de CV
Freeport McMoRan Copper & Gold Inc

The press release from the Ministry of Finance
The recommendation from the Council on Ethics (Wal-Mart)
The recommendation from the Council on Ethics (Freeport)

 

05.01.2006

BAE Systems Plc.
Boeing Co.
Finmeccanica Sp.A.
Honeywell International Inc.
Northrop Grumman Corp.
United Technologies Corp.
Safran SA

The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

03.09.2009 Exclusion of Thales SA reversed
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

31.08.2005

Alliant Techsystems Inc.
EADS Co (European Aeronautic Defence and Space Company)
EADS Finance BV
General Dynamics Corporation
L3 Communications Holdings Inc.
Lockheed Martin Corp.
Raytheon Co. 
Thales SA

The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

01.09.2006 Exclusion of Kerr-McGee reversed
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

06.06.2005

Kerr-McGee Corporation
The press release from the Ministry of Finance
The recommendation from the Council on Ethics

 

22.03.2002

Singapore Technologies Engineering
The recommendation from the Advisory Commission on International Law

 

Contact information

Asset Management Department

Telephone: +47 22 24 41 63
Fax: +47 22 24 95 91

Address

The Ministry of Finance
Asset Management Department
P.O. Box 8008 Dep
0030 Oslo
Norway

Old Government Building: Stairway

Contact information

Asset Management Department

Telephone: +47 22 24 41 63
Fax: +47 22 24 95 91

Address

The Ministry of Finance
Asset Management Department
P.O. Box 8008 Dep
0030 Oslo
Norway