On 26 June 2013, the Council on Ethics recommended the exclusion of the company Noble Group Ltd. due to an unacceptable risk that the company is responsible for severe environmental damage as a result of its conversion of tropical forest into oil palm plantations.
On 1 January 2015 new Guidelines for Observation and exclusion from the Government Pension Fund Global came into force. The new Guidelines apply to companies in the Fund’s portfolio. As of 1 January 2015 Noble Group Ltd. was not included in the Fund’s portfolio.
As set out in paragraph 12 litra b) of the new Guidelines, all recommendations from the Council on Ethics which the Ministry of Finance had received, but not finally processed by 1 January 2015, should be taken note of by the Ministry and made public. The recommendation is thus published on the Council on Ethics’ website.