Norway wealth fund has sold its stakes in Adani companies

The $1.35 trillion national wealth fund of Norway announced on Thursday that it had almost completely sold all of its remaining shares in the Adani group of enterprises in recent weeks.

The fund’s head of ESG risk monitoring, Christopher Wright, stated at a press conference, “We have studied Adani for many years (on ESG) concerns, many on their handling of environmental hazards.”

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By the end of 2022, the fund had sold its holdings in three Adani companies, including Adani Ports, after having sold its shares in five Adani companies since 2014.

“We further decreased in Adani firms after the end of the year. There is nothing left to expose, “he remarked

The Norwegian fund owned shares in Adani Green Energy worth $52.7 million, Adani Total Gas for $83.6 million, and Adani Ports & Special Economic Zone for $63.4 million at the end of 2022.