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    NBIM in third tranche of coal exclusions

    Stockholm (NordSIP) – Norges Bank Investment Management, which manages investments of the giant Government Pension Fund Global continues to eliminate has decided to exclude 10 companies from the Government Pension Fund Global based on the product-based coal criterion in the guidelines for observation and exclusion.

    The exclusions follow Norges Bank Investment Management’s third round of analysis of companies that may be affected by this criterion. The exclusions comprise all companies’ unlisted subsidiaries that issue bonds. The exception is green bonds, or subsidiaries that are deemed to have significant renewable energy activity.

    Companies may be placed under observation where there is doubt as to whether the conditions for exclusion have been met, or as to future developments, or where observation is deemed appropriate for other reasons. Norges Bank has for this reason decided to place an additional two companies under observation.

    In total, Norges Bank has so far excluded 69 companies and placed 13 companies under observation based on the product-based coal criterion  upon recommendations from Norges Bank Investment Management.

    Recently excluded companies include Eneva SA (Spain), Great River Energy (US), HK Electric Investments & HK Electric Investments (Hong Kong), Huidan Energy Co Ltd (China), Korea Electric Power Corp (South Korea), Malakoff Corp Bhd (Malaysia), Otter Tail Corp (US) and SDIC Power Holdings Co Ltd (China).

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    Kamran Ghalitschi
    Kamran Ghalitschihttp://nordicbusinessmedia.com
    Kamran has been working in the financial industry since 1994 and has specialized on client relations and marketing. Having worked with retail clients in asset management and brokerage the first ten years of his career for major European banks, he joined a CTA / Managed Futures fund with 1,5 Billion USD AuM he was responsible for sales, client relations and operations in the BeNeLux and Nordic countries. Kamran joined a multi-family office managing their own fund of hedge funds with 400 million USD AuM in 2009. Kamran has worked and lived in Vienna, Frankfurt, Amsterdam and Stockholm. Kamran today again lives in Vienna, Austria.

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