Thursday, January 27, 2011

Ethical investing in Norway

This article details wikileaks cables about Norway's divesting itself of stock in unethical companies. Apparently Norway's petroleum exports have given it vast wealth that it invests in a sovereign fund, which is Europe's largest investor. The Norwegian government decreed that this fund would divest itself of stock in any companies it considered unethical. This means they don't want stock in nuclear arms manufacturers, oil companies that do business with dictatorships, or Walmart. Norway cited Walmart's consistent flaunting of labor standards in its suppliers and its own stores.

I like when the haves of the world use their power and money to inflict hurt on bad guys.

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