US EditionNorway Sovereign Wealth Fund Drops French Miner over Environmental Fears
Norway's fund, holding a $6.8 million stake in Eramet, cited risks of environmental and human rights violations at an Indonesian nickel mine affecting isolated indigenous communities.
- Norges Bank's Executive Board decided on September 12, 2025, to exclude French mining company Eramet SA from its sovereign wealth fund portfolio over environmental and human rights concerns linked to operations in Indonesia.
- The decision was based on a recommendation from the fund’s ethics council, which highlighted a significant risk that Eramet is linked to major environmental harm and violations of the rights of uncontacted indigenous communities through its involvement in a nickel mining project on Halmahera island.
- Eramet held a 0.44 percent stake valued at about $6.8 million as of June 30, while Indonesian authorities seized nearly 150 hectares of mine concessions for encroaching protected forests without permits.
- The ethics council cited risks including deforestation, loss of critical habitats, and harm to the Hongana Manyawa indigenous tribe, described as one of Indonesia’s last isolated hunter-gatherer communities.
- This exclusion reinforces Norges Bank’s commitment to avoiding investments linked to serious environmental harm and human rights violations within its nearly $2 trillion global portfolio.
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41 Articles
The rights of Aboriginal people and environmental damage in a mine in Indonesia are discussed to explain the decision to exclude the French company.
Daily Journal
Norway sovereign wealth fund drops French miner over environmental fears
Norway's sovereign wealth fund said Friday it was excluding French mining company Eramet from its portfolio, citing risks that the company was contributing to human rights violations and environmental damage at a nickel mine in Indonesia.
Norway’s Wealth Fund Divests from Eramet Over Ethical Concerns
Norway's sovereign wealth fund has excluded French mining group Eramet from its portfolio due to ethical concerns. The decision was influenced by Eramet's joint venture in Indonesia, which allegedly causes environmental damage and human rights violations. Indonesian authorities are also seizing non-compliant mining plots.
Norway’s wealth fund excludes French miner over Indonesian nickel project
Norway’s sovereign wealth fund, the world’s largest, has excluded French mining company Eramet from its investment portfolio due to environmental and human rights concerns linked to a nickel project in … The post Norway’s wealth fund excludes French miner over Indonesian nickel project appeared first on Scandasia.
The Norwegian sovereign wealth fund has sold its stake in French mining company Eramet due to concerns about human rights violations and environmental damage caused by the company's controversial nickel mine in Indonesia. The mine is alleged to be causing rainforest deforestation and harming indigenous people.
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