Norway dumps Wal-Mart stock
http://www.aftenposten.no/english/business/article1341741.ece<snip>
The huge fund that's meant to preserve Norway's oil wealth for future generations is pulling out of shares that don't meet the government's ethical standards. Among them is the Wal-Mart discount store chain.
<snip>
The ministry reported that it's excluding Wal-Mart Stores Inc, Wal-Mart de Mexico and Freeport McMoRan Copper and Gold Inc from the fund "in line with recommendations from the Council on Ethics for the Fund."
Halvorsen's finance ministry officials cited "serious" and "systematic violations of human rights and labour rights" as its reason for pulling out of its Wal-Mart investments.
Another decision to dump shares in Freeport McMoRan was based on "serious environmental damage" incurred by the company.
-More-