The Council on Ethics recommends that Larsen & Toubro Ltd (L&T) be excluded from investment by the Norwegian Government Pension Fund Global (GPFG) due to the company’s production of key components of nuclear weapons.
The Council’s recommendation relates to the company’s role in the construction of India’s strategic submarines.
Please find the Council’s recommendation here.
The Council on Ethics issued its recommendation on 25 April 2024. Norges Bank announced its decision to exclude the company on 5 September 2024.