Ethical investing and weapons

Government Pension Fund-Global (GPFG), the largest of Norway's sovereign wealth funds, blacklisted Textron.

Textron produces cluster weapons, wich are banned due to the Convention of Cluster Munitions. The convention was signed Dec. 3 by more than 100 countries (including Norway), but not the United States, China or Russia.

Kristin Halvorsen, Norway's finance minister, said that the announcement to divest 36 million USD in Textron shares by the GPFG's adminstrative board, was based on a report and an exclusion recommendation from the fund's Ethics Council.

"We cannot participate in the funding of this type of production." Halvorsen said. The Norway government simply cannot afford to soil her image by investing in clusterweapons and to not comply The Convention of Cluster Munitions they've signed.

Jord Willo