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.

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

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

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

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.

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.