Norway's global pension fund drops three weapon producers over ethics concerns

The Associated Press
Published: January 11, 2008

OSLO, Norway:

The Norwegian government global pension fund has dropped three companies, from the United States, Britain and South Korea, on ethical grounds because of their roles in producing nuclear weapons or cluster munitions, the finance minister said Friday.

The excluded companies are:

Hanwha Corporation, from South Korea

Serco Group PLC from Britain

GenCorp Inc. from the United States.

"These companies produce cluster munitions and nuclear weapons, respectively, and we cannot participate in the funding of this type of production," said Finance Minister Kristin Halvorsen.