World’s Biggest Wealth Fund Drops G4S on Qatar Worker Abuses - Bloomberg:
Norway’s sovereign-wealth fund has dropped U.K. security firm G4S Plc from its portfolio, citing abuses of migrant-worker rights in Qatar and the United Arab Emirates.
The central bank in Oslo, which manages the $1.1 trillion fund, said it took the step “due to unacceptable risk that the company contributes to or is responsible for serious or systematic human rights violations,” according to a statement on Thursday.
Shares in G4S dropped as much as 3.7% in London trading. The fund held a 2.33% stake in G4S at the end of 2018, valued at the time at about $91 million. The investor currently has 156 companies on its exclusion list.
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