OSLO: Norway’s US$900bil sovereign wealth fund, the world’s biggest, excluded Duke Energy Corp and some units from its investments because of a risk of “severe environmental damage”.
The executive board of Norges Bank, which oversees the fund, decided to exclude Duke and wholly-owned subsidiaries Duke Energy Carolinas LLC, Duke Energy Progress LLC, and Progress Energy Inc after an April 5 recommendation from its Ethics Council, Norges Bank Investment Management (NBIM) said in a statement on its website.
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