The Council on Ethics for Norway’s sovereign wealth fund is assessing whether Energy Transfer Partners (ETP) violated the fund’s guidelines for responsible investment, reported Reuters today.
Similar reviews in the past has led to divestments, such as the fund’s 2015 decision to sell off more than $8 billion of investments in coal and related industries.
As of the end of 2016, the $1 trillion fund has held $248 million of ETP bonds.
“This is good news, it shows that our voices are being heard,” said Dallas Goldtooth, Keep It In the Ground Campaigner with Indigenous Environmental Network. “We encourage all investors to question the Human and Indigenous rights impacts of their fossil fuel investments.”
Today’s report comes as activists in more than 40 cities worldwide participate in the Mazaska Talks (Money Talks) Global Days of Action, demanding that banks stop financing climate disaster and adopt policies that require Free and Prior Informed Consent (FPIC) of impacted indigenous communities when making investment decisions on major projects.
Take action and move your money today. Visit www.bankongood.com/mazaska to participate.