KUALA LUMPUR: US $ 1 trillion (RM4 trillion) sovereign wealth funds, the largest in the world, have withdrawn from 33 palm oil companies over the last seven years, a green group said -diugh.
The Norwegian Norwegian Government Pension Fund (GPFG), who issued an annual report yesterday, has made the sale of more than 60 companies due to deforestation – which includes 33 organizations was involved in palm oil – said Rainfore Norway Forest Foundation.
"It's great to see that the GPFG is committing deforestation," said Vemund Olsen, a senior policy advisor at his & her; Oslo based organization.
"The arrangements should be seen as a warning given to these repositories and companies that are still involved in deforestation," said Olsen, who has investigated the organization GPFG investments from 2010, to Reuters.
As more consumable oil, palm oil is found in everything from margarine to cookies and soap to nappies, as well as biofuels.
But in recent years, the industry has been closely researched by green and consumer activists, who have been blamed for cleaning woodlands for plantations and their products. cause fires, together with the use of staff.
Green groups are often opposed to Norway on double levels by replacing billions of dollars in palm oil or soybean farmers. They also provide money to countries from Brazil to Indonesia to stop deforestation.
Norway has signed a $ billion contract with Indonesia to help protect its tropical forests in 2010 and its first payment for reduced emissions was agreed last week.
Since 2012, the GPFG has been a more active partner and now contributes to sustainability and ethos among its investments and its; leaving companies that do not achieve their standards.
Marthe Skaar, a spokesperson at the Norges Bank Investment Administration, who ruled the property, said more than 60 moves were made due to deforestation risks, including 33 palm oil organizations, from 2012.
There were benefits in two companies of oil as well as the last year; , Skaar said, saying that the property does not show the names of these companies.
Most of the palm oil is growing in Indonesia and Malaysia.
In a report that was released earlier this month, GPFG said that it is involved in companies with which it is involved in removing them to boost their connections to the destruction consolidation.
He is currently calling on banks in Indonesia, Malaysia and Brazil to accept deforestation criteria for their loans to the agricultural sector, the report said.
"The GPFG has discovered that deforestation has reduced the long-term results on investments," said Olsen.
"It's becoming increasingly clear that companies involved in deforestation, directly or through their supply chains, are highly susceptible to investors."