Norway's KLP to Divest From Russia
March 01 2022 - 4:30AM
Dow Jones News
By Maitane Sardon
Norwegian pension provider KLP said it would exclude Russia from
its investment portfolios, joining other Western companies in
severing ties with the country over its invasion of Ukraine.
KLP said Monday the divestment, which has a value of just under
500 million Norwegian kroner ($56.7 million), will affect 22
Russian companies, including Rosneft, Gazprom and Lukoil.
KLP--Norway's largest pension company--said the companies'
operations contribute to the violation of its guidelines based on a
combination of country, sector and company risk.
"KLP does not wish to contribute directly or indirectly to
serious violations of the rights of individuals in situations of
war and conflict," the company said.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
March 01, 2022 04:15 ET (09:15 GMT)
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