Norway excludes Adani Ports, US and Chinese cos from pension fund

Mumbai: Norway's central bank has blacklisted three companies, including India's Adani Ports and Special Economic Zone (APSEZ), from its government pension fund portfolio citing ethical concerns.

Norges Bank said on Wednesday that it excluded the company because of an unacceptable risk that the company contributes to serious violations of individuals' rights in situations of war or conflict. The other two companies blacklisted by Norges Bank include US-based L3Harris Technologies and China's Weichai Power.

Adani Ports has been under observation since March 2022, and the decision to exclude it is based on a recommendation from the Council on Ethics of November 21, 2023, said Norges Bank.