Norway's sovereign wealth fund sold all its shares in Adani Group Companies, by the end of 2022

10 Feb 2023 , 09:25 AM

The $1.35 trillion sovereign wealth fund of Norway announced on Thursday that it had recently sold almost all of its remaining investments in businesses owned by the Adani group of India.

Christopher Wright, the fund’s head of ESG risk monitoring, stated during a news conference that ‘we have studied Adani for many years (on ESG) concerns, many on their handling of environmental risks).

By the end of 2022, the fund had sold its holdings in three Adani companies, including Adani Ports, after selling its shares in five Adani companies since 2014.

‘We have further decreased in Adani firms since year-end. No more exposure is available,” said he.

The Norwegian fund owned shares in Adani Green Energy worth $52.7 million, Adani Total Gas for $83.6 million, and Adani Ports & Special Economic Zone for $63.4 million as of the end of 2022.

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