UK explorer Cairn Energy and Dallas-based Kosmos Energy have been excluded by Norwegian state financial institution Norges Bank from its pension fund because of their activities off the Sahrawi Arab Democratic Republic (SADR), a non-self-governing territory in West Africa.
The decision to add these two companies to the list of companies excluded from the Government Pension Fund Global was “based on an assessment of the risk of particularly serious violations of fundamental ethical norms” according to Norges Bank.
The
