February 3, 2010
GES Investment Services has been awarded a mandate to provide research services for the €280bn Norwegian Government Pension Fund Global. The contract comprises tobacco and weapons criteria.
The Norwegian Government Pension Fund Global holds equities and fixed income instruments in more than 8,000 companies. The purpose of GES’ screening contract is to identify companies in the Fund’s portfolio, which may be involved in:
• Production of weapons that through their normal use violate fundamental humanitarian principles;
• Sale of weapons and military material to the government of Burma (Myanmar);
• Manufacturing of tobacco products.
In addition, GES will monitor companies that have already been excluded from the Fund’s portfolio due to involvement in the above mentioned activities, which is in breach of the Fund’s ethical guidelines, to validate whether the grounds for exclusion are still valid.
The assignment will commence in March 2010 and run for four years.