Norway Excludes Adani Ports from its Massive Pension Fund

Adani Ports and Special Economic Zone (APSEZ), Norway has excluded the company from its $1.3 trillion Government Pension Fund Global over ethical concerns related to human rights violations.

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Norway Excludes Adani Ports from its Massive Pension Fund

Adani Ports and Special Economic Zone (APSEZ), Norway has excluded the company from its $1.3 trillion Government Pension Fund Global over ethical concerns related to human rights violations.

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The exclusion of APSEZ from Norway’s massive pension pool is a significant blow to the Adani Group company.

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The Norwegian central bank Norges Bank, which manages the Government Pension Fund Global (GPFG), announced on May 15th.

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APSEZ has been under observation by the Council since March 2022 over its port operations in conflict-ridden Myanmar.

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However, the exclusion decision was finally taken as APSEZ failed to provide adequate information regarding the buyer it sold its Myanmar port business to in May 2023.

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The Council could not establish if APSEZ still had any links to the unnamed buyer due to the confidentiality invoked by the company around the deal.

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