May 16 (Punjab Khabarnama) : A new problem has arisen for India’s second richest industrialist Gautam Adani. Adani Ports and SEZ, the most prominent company of his group, has been blacklisted by a sovereign wealth fund in Norway. It has also excluded Adani Port from its portfolio.
Norges Bank Investment Management, one of Norway’s largest sovereign funds, issued a statement in this regard on Wednesday. The fund has announced that it is now excluding Adani Port and SEZ from its portfolio. Not only this, the Sovereign Fund has also removed America’s L3 Harris Technologies Inc. and China’s Weichai Power Company from its portfolio.
Adani Ports linked to human rights violations
Norway’s Sovereign Fund has said in its statement that Adani Ports is working in areas which are at war or in conflict zones. According to Bloomberg reports, the company is linked to human rights violations in these areas and this is an ‘unacceptable’ risk. Therefore the fund is pulling out its investments from Adani Port. Adani Port currently operates mainly in Israel, where Israel is in conflict with Hamas.
The Sovereign Fund has also blacklisted the American company because it manufactures components related to nuclear weapons. At the same time, the Chinese company contributes to the sale of military equipment in Russia and Belarus. Norway is a very conscious country regarding human rights protection and is always included in the top countries in all the indexes related to it.
