Decisions on exclusion and observation

Norges Banks Executive Board has decided to revoke observation of the company Supermax Corp BhD. The company has been under observation since June 2022 due to an unacceptable risk that the company was contributing to human rights violations. According to the Council on Ethics, the company has during the time of observation reported that it has implemented several measures to improve conditions. The risk that the company is contributing to human rights violations is no longer considered unacceptable. 

The decision is based on a recommendation from the Council on Ethics of 26 June 2024. 

As part of Norges Bank’s work on the product-based coal criterion, we monitor company events and companies entering the market. The purchases and sales of ownership stakes and subsidiaries may to a large extent determine whether a company is affected by the criterion or not. As a result of such monitoring, the Executive Board, based on a recommendation from Norges Bank Investment Management, has decided to revoke observation of the companies Southern Co and BHP Group. The Executive Board has further decided to revoke exclusion of the companies TXNM Energy Inc, Public Power Corp SA, TransAlta Corp, Jastrzebska Spolka Weglowa SA, Eneva SA and Capital Power Corp.

The Council on Ethics’ recommendations: 

Supermax Corp BhD
Norges Bank Investment Management’s recommendation

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