With the recent installation of Charles ‘Chip’ Goodyear at the head of Temasek Holdings, the Sovereign Wealth Funds have once again, only men at the helm. From Career Politicians (Tony Tan, GIC) to a former merchant banker with limited international experience (Bader Mohammad Al-Sa’ad, KIA), can the background of these leaders tell us how they will manage the billions under their charge?
Posts Tagged 'NBIM'
Tags: Cluster Bombs, Council on Ethics, NBIM, Norges Bank Investment Management, Sovereign Wealth Fund, Textron
Based on a recommendation from the Norwegian Council on Ethics, the Ministry of Finance instructed NBIM, Norway’s Sovereign Wealth Fund (SWF), to exclude Textron, because the company manufactures a ‘Sensor Fuzed’ weapon, a cluster bomb.
Why the sudden sell off? NBIM has traditionally excluded cluster bomb makers but with the stricter definition of cluster bombs laid out in the recently signed new international treaty banning cluster weapons signed in December 2008, Norway’s Council on Ethics decided to revisit the country’s significant ($36m) investment in Textron, which also owns plane-maker Cessna.
Textron insists that its ‘Sensor Fuzed’ weapon’s advanced technology precludes the possibility of its ordinance remaining unexploded, risk the lives and limbs of innocent civilians.
List of Norway’s SWF Excluded Companies: Link Here