World's biggest wealth fund dumps 15 stocks on ethical grounds

The Oslo-based fund generated $123 billion in returns in 2020, marking its second-best performance ever thanks in large part to tech stocks

Norway’s $1.3-trillion wealth fund blacklisted 15 companies last year, including Glencore, as part of the world’s biggest sovereign investor’s efforts to fight unethical conduct at some of the most powerful corporations.
 
Other companies added to the Oslo-based fund’s exclusion list in 2020 were RWE, Canadian Natural Resources and Anglo American, the investing behemoth said in a report on Thursday.
 
“We divest from companies where we no longer wish to be a shareholder for ethical or sustainability reasons,” the fund said. “By not investing in these companies, we reduce our exposure to unacceptable risks.”
 
The fund said the