AMWatch

Oil fund blacklists four Chinese companies

Norges Bank Investment Management, commonly known as the Norwegian oil fund, has excluded the companies due to environmental concerns.

Norges Bank Investment Management, Shanghai | Photo: Norges Bank

The executive board at Norges Bank Investment Management (NBIM) has excluded four companies based in China.

The four companies, China Traditional Chinese Medicine Holdings Co Ltd, Beijing Tong Ren Tang Chinese Medicine Co Ltd, Tong Ren Tang Technologies Co Ltd, and China Grand Pharmaceutical and Healthcare Holdings Ltd have been excluded "due to unacceptable risk that the companies contribute to serious environmental damage," NBIM's website states.

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