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Decision to revoke exclusion of company from the Government Pension Fund Global

30 September 2016

Norges Bank has decided to revoke the exclusion of Singapore Technologies Engineering Ltd from the Government Pension Fund Global. The company was excluded from the fund in 2002 due to production of antipersonnel landmines.

The Executive Board’s decision to revoke the exclusion was made on the basis of a recommendation from the Council on Ethics, which regularly shall assess whether the basis for observation or exclusion still exists. The Council on Ethics has received confirmation from Singapore Technologies Engineering that the company no longer has any activities associated with production of antipersonnel landmines or cluster munitions. The Council on Ethics has on the basis of this information recommended the bank to revoke the exclusion (see § 5, subsection 5, of the Guidelines for observation and exclusion from the Government Pension Fund Global).

The Council on Ethics’ recommendation
List of all excluded companies

 

For more information, contact:

Runar Malkenes, 
Director of Communications, Norges Bank
Phone: +47 952 14 283