Tuesday, November 20, 2018
News

Norway wealth fund to firms: fight corruption

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

OSLO | Tuesday, Feb 13 2018 IST
Norway's $1 trillion sovereign wealth fund, the world's largest, set out new expectations on Tuesday for the 9,100 companies it invests in regarding the way they prevent and fight corruption internally.

The fund suggested, among other things, that boards should ensure that firms establish anti-corruption policies and procedures to prevent and address corruption and that these should be clearly communicated to employees.

"Companies should have a whistleblowing mechanism that provides a separate and confidential escalation route when reporting through a line manager is not appropriate, or if the whistleblower wishes to remain anonymous," the fund said in the document.

The fund funnels the proceeds of Norway's oil and gas production. It invests in some 9,100 companies worldwide, as well as bonds and property.

It is forbidden by law from investing in firms that produce nuclear weapons or landmines, or are involved in serious and systematic human rights violations, among other criteria.

REUTERS AS1521

-- (Reuters) -- C-1-1-DL0386-1248398.Xml

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Kerala CM cannot treat Ayyappa devotees...
Polling on 72 seats of second and last p...
Any Govt should be committed to welfare ...
Accidental firing injured cop succumbs a...
UP Govt to set up Mukhyamantri Suposhan...
Cold wave continues in Himachal Pradesh...
More...    
 
 Top Stories
Harari to deliver lecture on new ch... 
'The Dark Side ...' a modern film a... 
DCW rescues girl from Agra... 
1984 anti-Sikh riots: Death to Yash... 
Deepika-Ranveer wedding: The Sindhi... 
Congress means nepotism, corruption... 
Jack Dorsey poster row: Twitter Ind... 
Muzaffarpur horror: Absconding Biha...