Adani Ports excluded by Norway's largest pension fund for biz links with Myanmar military

By IANS | Published: June 22, 2021 04:54 PM2021-06-22T16:54:02+5:302021-06-22T17:05:23+5:30

New Delhi, June 22 Adani Ports and Special Economic Zone Ltd has been excluded from investment by Norway's ...

Adani Ports excluded by Norway's largest pension fund for biz links with Myanmar military | Adani Ports excluded by Norway's largest pension fund for biz links with Myanmar military

Adani Ports excluded by Norway's largest pension fund for biz links with Myanmar military

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New Delhi, June 22 Adani Ports and Special Economic Zone Ltd has been excluded from investment by Norway's largest pension fund, KLP and the KLP Funds with effect from June 2021.

This due diligence-based divestment has been implemented on the grounds that Adani's operations in Myanmar and its business partnership with that country's armed forces constitutes an unacceptable risk of contributing to the violation of KLP's guidelines for responsible investment.

India's largest commercial port operator, Adani manages 12 ports in India, with logistics accounting for an important part of its business activity. Adani has entered into a business partnership with the military-owned conglomerate Myanmar Economic Corporation

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