On 15 January 2014, the Council on Ethics recommended the Ministry of Finance to exclude the company PT Astra International Tbk 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. As set out in paragraph 1 litra c) of the new Guidelines, the Council on Ethics shall submit recommendations on the exclusion or observation of companies to Norges Bank. In its recommendation to the Bank dated 23 June 2015, the Council on Ethics updated its previous recommendation and recommended the observation of the company.
Please find the 2014 recommendation to the Ministry here
Please find the 2015 recommendation to Norges Bank here
Please find the Council’s 2018 observation letter here
Please find the Council’s 2019 observation letter here
Please find the Council’s 2020 observation letter here