KLP list Companies excluded as of June 21st, 2016english.klp.no/polopoly_fs/1.34185.1466491449!/menu/standard/file... · Porgera mine in Papua New Guinea. ... Genting Berhad, ...

KLP list Companies excluded as of June 21st, 2016

* The company is excluded for more than one reason. 1

Company Country Industry Reason for exclusion

Human rights

AES USA Utilities AES operates the hydropower dam Chan 75 in Panama, which

according to UN reports is associated with violations of the human rights of the Ngöbe people. In 2008, the UN sent appeals to the state of Panama, warning of forced displacement, loss of housing, destruction of arable land and widespread use of violence and arrests of members of the indigenous group that opposed project plans. Construction of the dam has resulted in flooding and forced displacement of the Charco la Pava community, but the residents are reported to not have been consulted. The company was excluded in 2008.

Alstom France Capital goods In 2007, a special representative for the UN Human Rights

Council called on companies involved in the Merowe Dam project in Sudan to halt operations due to reports of human rights violations in connection with the massive forced displacement of local residents; approximately 50,000 people are estimated to have been forced to move owing to the dam's construction. Alstom was among the involved companies, as the main supplier of electric equipment to the project. None of the companies followed the UN special representative's recommendation. The company was excluded in 2007.

Daewoo International Corporation

South Korea

Capital goods

Daewoo International is one of the largest buyers of cotton from Uzbekistan. The Uzbek state maintains a monopoly on the sale of cotton abroad and the use of child labor during the cotton harvest has long been confirmed by



international sources. The use of child labor has steadily declined, but has been replaced with a corresponding increase in the use of adult forced labor. The companies are aware of the risk, but have no plans to change their sourcing practices and have not implemented measures designed to ensure that forced labor and child labor are not used in their supply chain in the future. The company was excluded in 2014.

L-3 Communications

USA

Capital goods

The US Army's report on abuse and torture at the Abu Ghraib prison in Iraq from 2003-2004 determined that employees of the company Titan were complicit or present during the abuses. According to the report, Titan has not addressed these issues adequately, nor given sufficient instructions to its employees. Titan was subsequently acquired by L-3 Communications, which thereby took over responsibilty. The company continues to deliver interpretation services to the US Army. The company must therefore establish mechanisms to avoid the occurrence of future human rights violations. The company was excluded in 2005.

Olam International

Singapore

Food and staples retailing

Olam International sources 10,000 tons of cotton from Uzbekistan annually. The Uzbek state maintains a monopoly on the sale of cotton abroad and the use of child labor during the cotton harvest has long been confirmed by international sources. The use of child labor has steadily declined, but has been replaced with a corresponding increase in the use of adult forced labor. The company is aware of the risk and over the last few years has reduced significantly the amount of cotton it purchases from Uzbekistan. Nevertheless, the company continues to purchase cotton despite its inability to monitor whether forced labor or child labor are used within its supply chain in Uzbekistan going forward. The company was excluded in 2014.



POSCO

South Korea

Materials

POSCO is the majority shareholder in Daewoo International, a company that is among the largest purchasers of cotton from Uzbekistan (see discussion of Daewoo International). The Uzbek state maintains a monopoly on the sale of cotton abroad and the use of child labor during the cotton harvest has long been confirmed by international sources. The use of child labor has steadily declined, but has been replaced with a corresponding increase in the use of adult forced labor. The companies are aware of the risk, but have no plans to change their sourcing practices and have not implemented measures reasonably designed to ensure that forced labor and child labor are not used in their supply chain in the future. The company was excluded in 2014.

Vedanta Limited* India Materials Formerly, Sesa Sterlite.

Vedanta Limited is a joint venture partner in the aluminum factory currently under construction in Orissa, India, in which Vedanta Resources is the controlling shareholder. See Vedanta for the rationale for exclusion.

Vedanta Resources*

UK Materials Vedanta Resources is in the process of establishing aluminum production in Orissa, India. According to Indian authorities, during this process, the company has violated Indian environmental laws, misled authorities, and caused serious environmental damage. The facility's establishment requires the felling of several square kilometers of forest in one of India's most biodiverse regions, which is home to several threatened species. Furthermore, the company is accused of illegally expanding production, irresponsible hazardous waste management, violations of indigenous rights, and poor wages and dangerous working conditions in its mines and factories. The company was excluded in 2007.



Zuari Agro Chemicals

India Materials Zuari Agro Chemicals Ltd. (Zuari) is excluded due to an unacceptable risk that the company, through its production of hybrid seeds, is complicit in the worst forms of child labor. The Council on Ethics for the Government Pension Fund – Global researched the scale of child labor in the company's hybrid seed production in 2011 and 2012. On average, it was discovered that from 20 to 30 percent of the workforce involved in the production of seeds for the company consisted of children. In its evaluation, the Council has placed emphasis on the systematic use of children in the company's production. The children's young age and the health risk to which they are exposed through this work, including the use of pesticides, indicates that this can be considered among the worst forms of child labor. The Council on Ethics has furthermore emphasized that the risk of child labor is well known within the industry, that the company is in close cooperation with the farmers that employ child labor, and that the company does not have any concrete measures to reduce the incidence of child labor. The company was excluded in 2013.

Labor rights

Wal-Mart Stores

USA

Food and staples retailing

A constant stream of reports in the media and court cases indicate the existence of systematically poor working conditions at Wal-Mart. The company is criticized for repeated violations of labor rights in several areas. The criticism involves child labor, factories that exploit workers, discrimination against women and efforts to resist unionization. One example is that 67,500 former and current employees in 2008 won a court case in which Wal-Mart was found to have systematically withheld employee wages. The judgement was handed down from the highest court in Massachusetts, and more than 30 similar cases against Wal-Mart are active in other American states. Another example is a class action lawsuit where 1,6 million employees and former employees accuse the company of systematically discriminating against women.



The company was excluded in 2003.

Environment

Barrick Gold

Canada

Materials

Barrick Gold, the world's largest gold producer, operates, inter alia, the Porgera mine in Papua New Guinea. The company uses a natural river system for the transportation and deposition of mine waste. This has both a physical and chemical impact that affects water quality, human beings and animal life. The release of heavy metals such as mercury will be highly problematic long into the future. The waste contains high concentrations of, inter alia, arsenic, cadmium, copper, lead and zinc. The environmental damage that depositing mine waste in river systems can cause is well known, but the company has not implemented significant measures to prevent or reduce this damage. The company was excluded in 2009.

Chevron USA Energy (oil and

gas) A court case against Chevron began in 2004 over waste management in the Ecuadorian rainforest where ChevronTexaco, as the company was then known, operated from the 1960's to the 1990's. The court found against Chevron in 2013. The company is accused of having, over many years, dumped larged quantities of poisonous, carcinogenic waste, and thereby polluted water and soil for many local communities. Chevron contests the findings in several of the investigations that have been made, but in 2008, an independent investigation confirmed that 42 of 46 waste sites have high levels of poison, and that the majority of these are not included in Chevron's remediation program, which the company and the Ecuadorian authorities had agreed upon. As a result, the court case against Chevron involves not only the environment, but also claims of fraud. The company was excluded in 2002.



Freeport McMoRan

USA Materials Freeport McMoRan Copper & Gold operates the world's largest gold mine and second largest copper mine on New Guinea in Indonesia. The company deposits mine waste in a natural river system, and heavy metal runoff has from the company's landfills for waste rock and tailings has been documented. The company dumps as much as 230,000 tons per day. Comprehensive documentation shows that the company's activities have caused widespread and permanent environmental damage to the ecosystems in and along the entire watercourse and that the company has only to a limited extent implemented measures to prevent or mitigate this damage. The company was excluded in 2006.

Genting Berhad

Malaysia

Hotels, restaurants & leisure

Genting Berhad, through its subsidiary, Genting Plantations Berhad, is excluded due to an unacceptable risk that the company's ongoing conversion of rainforest to oil palm plantations in Indonesia will cause a serious loss of biodiversity. The company has not indicated it will engage in mitigating measures sufficient to lessen the risk of severe environmental damage. The company was excluded in 2015.

Genting Plantations Berhad

Malaysia

Food products

Genting Plantations Berhad is excluded due to an unacceptable risk that the company's ongoing conversion of rainforest to oil palm plantations in Indonesia will cause a serious loss of biodiversity. The company has not indicated it will engage in mitigating measures sufficient to lessen the risk of severe environmental damage. The company was excluded in 2015.

IJM Corporation Berhad

Malaysia

Construction and engineering

IJM Corporation Berhad, through its subsidiary, IJM Plantations Berhad, is engaged in the conversion of rainforest to palm oil plantations in an area of rich and unique biodiversity in Indonesia. The company has not announced



how it has mapped high conservation values within the affected concessions. Nor has it announced significant mitigating measures to stem the potentially irreversible loss of biodiversity. The company was excluded in 2015.

IJM Plantations Berhad

Malaysia

Food products

IJM Plantations Berhad is engaged in the conversion of rainforest to palm oil plantations in an area of rich and unique biodiversity in Indonesia. The company has not announced how it has mapped high conservation values within the affected concessions. Nor has it announced significant mitigating measures to stem the potentially irreversible loss of biodiversity. The company was excluded in 2015.

Lingui Development

Malaysia Paper and forest products

Lingui Developments Berhad produces, among other things, timber and wood products. Investigations by the Council on Ethics for the Government Pension Fund – Global documented what appears to be comprehensive and repeated violations of concession requirements and regulations in all of the company concessions that were investigated. Some of the violations were extremely serious, such as logging outside of the concession areas, logging in protected areas that were excluded by the authorities from the concession for inclusion in an existing national park, and the completion of second-generation logging without an environmental impact assessment. The company was excluded in 2011.

Madras Aluminium Company

India Metals and mining Madras Aluminium Company (Malco) is a listed subsidiary of Vedanta. The company is recommended excluded by the Council on Ethics for the Government Pension Fund – Global in the same recommendation as the parent company. Malco generates significant quantities of pollution and hazardous waste. The accusations have been directed especially at the disposal of red mud, a waste prouct from refining bauxite. It is, however, also reported that operation of the mines, smelters and power plants entails



significant environmental consequences and health damage for the local population. The company was excluded in 2008.

Noble Group Ltd.

Singapore

Capital goods

Noble Group owns through two subsidiaries concession areas in, respectively, Papua and West Papua, in Indonesia, where the company plans to convert forest to palm oil plantations. The area has a unique biological diversity that cannot be found in any other part of the world. The company has completed pre-development studies of the concession areas' conservation value, known as "high conservation value" or "HCV" assessments. Technical experts retained by the Council on Ethics for the Government Pension Fund – Global have identified significant weaknesses in these HCV assessments, which in KLP's estimation the company has not addressed in a sufficient manner. Neither does the company have any plans to undertake new assessments, or submit the existing assessments for third party peer review. Although the company is a member of the Roundtable on Sustainable Palm Oil, that organization's currently applicable requirements are more stringent than those which prevailed when the HCV assessments were undertaken. Due to all of the above reasons, KLP determines that there exists an unacceptably high risk that the company, through the conversion of rainforest to palm oil plantiations, will cause serious environmental damage. The company was excluded in 2015.

Norilsk Nickel Russia Materials Norilsk Nickel's Polar division in Siberia has emitted large quantities of sulfur

dioxide, nickle and heavy metals for many years. These emissions have lead to the death or significant damage of vegetation up to 20 kilometers from the facilities. The air pollution has also led to significant health problems among the local population. Respiratory illness and various forms of cancer are far more common here than in other parts of Russia. The environmental damage is comprehensive, long-term, and in some cases, irreparable. Although the company has implemented measures in recent years to reduce



the release of metals into the environment, the levels remain high and sulfur dioxide emissions are essentially unchanged. In the Council's opinion, the company does not appear to be in compliance with national environmental standards, and does not appear to have plans to remediate polluted areas. The company was excluded in 2009.

Rio Tinto UK Metals and mining Together with Freeport McMoRan, Rio Tinto owns the world's largest gold

mine and the world's next largest copper mine on New Guinea in Indonesia. The Grassberg mine emits large quantities of tailings, approximately 230,000 tons per day, directly into a natural river system. These tailings will increase going forward, in conjunction with expansion of the mine. Furthermore, there is a large risk that the runoff of heavy metals from the company's landfills for waste rock and tailings pollute the soil and watercourses. The mine is expected to be operational through 2041, which must be considered to imply a severe impact on the environment as nothing indicates that the company will change these practices in the future. The company was excluded in 2008.

Samling Global Malaysia Paper and forest

products The Malaysian forestry company Samling Global is recommended for exclusion by the Council on Ethics for the Norwegian Government Pension Fund – Global due to illegal logging and serious environmental damage. The Council on Ethics has investigated the company's activities in Sarawak (Malaysia) and Guyana. The company was excluded in 2010.

Ta Ann Berhad Holdings

Malaysia Materials Ta Ann Holdings Berhad (Ta Ann) is excluded due to an unacceptable risk that the company, through its forestry operations, is responsible for severe environmental damage. Ta Ann is a Malaysian forestry company with its principal place of business on Borneo in Sarawak, Malaysia. The company



engages in logging of tropical forest, and is in addition in the process of converting large forest areas to plantations for the production of wood and palm oil. The Council on Ethics for the Government Pension Fund – Global has evaluated the environmental impact connected to logging and deforestation in Ta Ann's concession areas in Sarawak. The Council has evaluated in particular to what extent the concession areas overlap with areas of high ecological value, and the consequences that conversion of forest entails for threatened species and their habitat. The company was excluded in 2013.

Tokyo Electric Power Company

Japan Utilities In 2011, the nuclear power plant Fukushima Dai-ichi, which is owned by Tokyo Electric Power Company (TEPCO), was hit by an earthquake and accompanying tsunami. Although TEPCO and the company's leadership did all that they could to prevent the catastrophic consequences the accident caused, and can be considered to have done everything correctly in an emergency situation, the consequences of the tsunami and the accident could have been reduced, and perhaps avoided entirely, through greater attention to risk in advance. In addition, the company has not managed to obtain control over the situation following the accident, nor to prevent additional spills. There remains a large risk of further leakages of radioactive material from the nuclear power plant. KLP therefore considers investment in TEPCO to entail a risk of complicity in severe environmental damage, and therefore a violation of KLP's guidelines for responsible investment. The company was excluded in 2013.

Vedanta Limited* India Materials Formerly, Sesa Sterlite.

Vedanta Limited is a joint venture partner in the aluminum factory currently under construction in Orissa, India, in which Vedanta Resources is the controlling shareholder. See Vedanta for the rationale for exclusion.



Vedanta Resources*

UK Materials Vedanta Resources is in the process of establishing aluminum production in Orissa, India. According to Indian authorities, during this process, the company has violated Indian environmental laws, misled authorities, and caused serious environmental damage. The facility's establishment requires the clearing of several square kilometers of forest in one of India's most biodiverse regions, which is home to several threatened species. Furthermore, the company is accused of illegally expanding production, irresponsible hazardous waste management, violations of indigenous rights, and poor wages and dangerous working conditions in its mines and factories. The company was excluded in 2007.

Volcan Compañia Minera

Peru Materials The Council on Ethics for the Government Pension Fund – Global recommends exclusion of the Peruvian company Volcan Compañia Minera SAA (Volcan) due to the unacceptable risk that the company, through its mining operations in Cerro de Pasco, Peru, is complicit in serious environmental damage. Volcan is Peru's largest producer of lead and silver, as well as the country's second largest producer of zinc. The mine is located within a city of 70,000 inhabitants. Since mining operations take place within populated areas of the city, the Council has placed emphasis on the consequences of mining operations for human life and health, especially the risk of illness and injury among children, owing to high lead concentration in the soil and water. The company was excluded in 2013.

WTK Berhad Holdings

Malaysia Materials WTK Holdings Berhad (WTK) is excluded due to an unacceptable risk that the company, through its logging operations, is responsible for serious environmental damage. WTK is a Malaysian forestry company that engages in logging and the production of plywood and lumber.



The Council on Ethics for the Government Pension Fund – Global has placed emphasis on the environmental damage connected to the conversion of tropical forest to plantations, environmental damage from logging, and that the company's operations appear to violate the usual concession conditions and can therefore be assumed to be illegal. In its evaluation, the Council emphasized the scale of the damage and the extent to which it entails long-term or irreversible effects, whether the environmental damage violates national standards and international norms, and what the company has done to mitigate the effect of the damage. The company was excluded in 2013.

Zijin Mining Group China Materials Zijin Mining Group Co. Ltd. (Zijin) is excluded due to an unacceptable risk

that the company, through its operations, will cause serious environmental damage. Zijin is a large producer of gold, copper and zinc, and has several facilities for mineral extraction and metal production. Over the past few years, there have been several serious incidents at the company's facilities where landfill dams for mining and process waste have collapsed, leading to widespread pollution and the loss of human life. The incidents involved landfill dams that have collapsed, such that large quantities of mining waste, industrial waste and hazardous chemicals have washed into waterways or flooded settlements and arable land. In the span of the past ten years, seven such incidents have been reported at the company's facilities in China. The company was excluded in 2013.

Corruption

China Railway Group, Ltd.

China

Capital goods

China Railway Group, Ltd. has been associated with serious corruption, inter alia, through the payment of bribes to public officials in China to secure the company railway contracts. The bribe recipients have later been punished through the court system and the Communist Party's disciplinary processes. CRG's leadership is essentially unchanged since that time, and publicly



available information about the company's ethical guidelines indicate major omissions relative to the routines in operation in the rest of the industry. Neither has the company responded to KLP's inquiries about the case. Therefore, the risk that CRG will be involved in future serious corruption is considered to be unacceptably high. The company was excluded in 2015.

Petróleo Brasileiro S.A. (Petrobras)

Brazil

Energy

Petrobras is involved in the largest corruption scandal in Brazilian history. Over more than a decade, the company's contracts with suppliers were routinely inflated by three percent of the contract sum, with the proceeds paid in bribes to Brazilian politicians, political parties and Petrobras executives. Despite the company's many remedial measures and continued outside pressure, KLP remains convinced that there remains an unacceptable risk that the company will be involved in corruption in the future. The company was excluded in 2016.

ZTE Corporation

China

Technology Hardware & Equipment

ZTE Corporation has been under investigation for 10 corruption cases. It has been temporarily barred from public bidding processes and, in one case, received a corporate criminal conviction. In sum, the allegations encompass over 18 countries. ZTE Corporation has not communicated any new measures undertaken to prevent recurrence. KLP concludes that the company continues to face an unacceptably high risk for involvement in corruption. The company was excluded in 2016.

Rights of individuals in war and conflict

AFI Group

Israel

Real estate

AFI Group is involved in the construction of Israeli settlements in the Occupied Palestinian Territories. In 2009, subsidiary Danya Cebus



constructed housing in three settlements in the region. According to international law, especially the Fourth Geneva Convention relative to the Protection of Civilian Persons in Time of War, the Israeli settlements are illegal. Several UN Security Council Resolutions and an International Court of Justice Advisory Opinion have concluded that the establishment of Israeli settlements on occupied Palestinian territory is illegal according to this convention. The company was excluded in 2010.

Danya Cebus Israel Engineering and

construction See the reason for exclusion of AFI Group. The company was excluded in 2010.

Shikun & Binui

Israel

Engineering and construction

Shikun & Binui Ltd. is involved in the construction of Israeli settlements in East Jerusalem and has previously also been involved in the building of settlements on occupied territory in the West Bank and in East Jerusalem. The International Court of Justice, the UN Security Council and the International Committee of the Red Cross (ICRC) have all determined that the construction of Israeli settlements in the West Bank and in East Jerusalem violates the Fourth Geneva Convention. The purpose of this convention is to protect civilians in time of war and occupation. The company was excluded in 2012.

Other ethical norms

Agrium Inc. Canada Materials Agrium has confirmed that the company imports phosphate from Western

Sahara. The International Court of Justice has determined that Morocco has no legal claim to Western Sahara and, accordingly, none to Western Sahara's natural resources. Extraction of natural resources from occupied



territory, in particular, in Western Sahara, has also been declared illegal by the UN Under-Secretary-General for Legal Affairs in 2002. The company was excluded in 2014.

Elbit Systems

Israel Capital goods Elbit Systems supplies an electronic surveillance system that is a component in the separation barrier that Israeli authorities have constructed along the West Bank. The sections of the barrier that lie within the Occupied Palestinian Territories are considered illegal under international law. Through its supply of this system, Elbit contributes to support illegal activities. The company was excluded in 2009.

Glencore plc

UK

Metals and mining

Glencore is conducting exploration and seismic studies of possible oil reserves under the continental shelf off the coast of Western Sahara. KLP considers investment in Glencore to be in conflict with KLP's guidelines for responsible investment and has conclude that the company's operations on the continental shelf off the coast of Western Sahara are associated with a violation of fundamental ethical norms.

HeidelbergCement

Germany

Materials

HeidelbergCement is excluded due to the company's extraction of natural resources from occupied territory. Through a subsidiary, HeidelbergCement operates a quarry in Area C in the West Bank, an area under full Israeli civil and military control. The quarries were established after the occupation began and license fees and royalties are paid to the Israeli state. Based on a review of the law of belligerent occupation, KLP concludes that the activities are not consistent with the international law principle that occupation shall be temporary. Neither does this resource extraction benefit the local population. Therefore, the operation of a quarry on occupied territory that was opened after the occupation constitutes an unacceptable risk of violating fundamental ethical norms.




Incitec Pivot Australia Chemicals Incitec Pivot imports phosphate rock from Western Sahara, which is under

Moroccan occupation. The International Court of Justice has determined that Morocco has no legal claim to Western Sahara, and by extension, no legal claim to Western Sahara's natural resources. Extraction of natural resources from occupied territory, in particular, in Western Sahara, has also been declared illegal by the UN Under-Secretary-General for Legal Affairs in 2002. The company was excluded in 2009.

Potash Corp Saskatchewan

Canada Chemicals Potash has confirmed that a fully-owned subsidiary imports phosphate rock from Western Sahara. The International Court of Justice has determined that Morocco has no legal claim to Western Sahara, and by extension, no legal claim to Western Sahara's natural resources. Extraction of natural resources from occupied territory, in particular, in Western Sahara, has also been declared illegal by the UN Under-Secretary-General for Legal Affairs in 2002. The company was excluded in 2010.

San Leon Energy PLC

Ireland

Energy

San Leon Energy conducts oil exploration off the coast of Western Sahara on the basis of a contract with the Moroccan authorities. KLP considers investment in San Leon Energy to be in conflict with KLP's guidelines for responsible investment and has conclude that the company's operations on the continental shelf off the coast of Western Sahara are associated with a violation of fundamental ethical norms. The company was excluded in 2016.

Weapons producers



Aerojet Rocketdyne Holdings

USA Capital goods Formerly, GenCorp. Aerojet Rocketdyne Holdings produces cluster munitions components. The company markets warheads for the weapons systems GMLRS, MLRS and ATACMS on its website. All three meet the definition of cluster munitions as set out in the Convention on Cluster Munitions. Aerojet Rocketdyne Holdings is also involved in the production of nuclear weapons. The company produces propellants for missiles that have no other function than to deploy nuclear warheads. The company was excluded in 2008.

Airbus Group

The Netherlands

Capital goods

The company is complicit in the production of nuclear weapons. Formerly, EADS.


Babcock & Wilcox USA Capital goods Babcock & Wilcox Company is involved in the development and operation of

central elements and services connected to nuclear weapons. The company operates two nuclear weapons facilities on behalf of the US military. The company was excluded in 2011.

BAE Systems

UK

Aerospace and defense

BAE Systems is involved in the production of nuclear weapons through its contract with the US Air Force for maintenance and upgrading of the Minuteman III ICBM weapons system, valid through 2021. This is considered nuclear weapons production as components must be updated and replaced on a rolling basis in order to keep a several-decades-old weapon system technologically updated. The company was excluded in 2015.



Boeing

USA

Capital goods

According to information on its website, Boeing supplies various forms of maintenance and upgrades of the Minuteman III ICBM. ICBMs are the main component in US land-based strategic nuclear weapons. The company was excluded in 2006.

BWX Technologies Inc.

USA

Capital goods

Previously, Babcock & Wilcox Company. BWX Technologies is involved in the development and operation of central elements and services connected to nuclear weapons. The company operates two nuclear weapons facilities on behalf of the US military. The company was excluded in 2011.

Finmeccanica

Italy

Capital goods

Finmeccanica is part-owner in the joint venture company MBDA. MBDA has according to Jane’s Air Launched Weapons a contract to develop and produce the ASMP-A missile for the French air weapons system. ASMP-A is described as a "nuclear warhead air-to-surface missile”. The company was excluded in 2006.

Fluor Corp.

USA


Through a joint venture with Honeywell and Huntington Ingalls Industries, Fluor Corp. provides the US military with its sole source of tritium gas. Tritium is a central component in nuclear warheads. The companies deliver the gas in a concentration intended for weapons use only. The company was excluded in 2015.

General Dynamics USA Capital goods General Dynamics is involved in nuclear weapons production and in the US

nuclear weapons defense system. In addition, the company has produced cluster munitions, but stated in 2010 that it no longer markets or produces



this type of weapon. Nevertheless, the company will not guarantee that it will not produce cluster munitions in the future. The company was excluded in 2005.

Hanwha South Korea Materials Hanwha Corporation has confirmed to the Council on Ethics for the

Government Pension Fund – Global that it produces air- and surface-delivered cluster munitions. The company also markets these on its website. The company was excluded in 2008.

Honeywell International

USA Capital goods Through its subsidiary Honeywell Technology Solutions Inc., the company is responsible for the repair, development, calibration, operation and maintenance of measuring instruments, as well as the registration of data for nuclear weapons detonation simulations at White Sands Missile Range in New Mexico. The company was excluded in 2006.

Huntington Ingalls Industries

USA

Aerospace and defense

Through a joint venture with Honeywell and Fluor Corp., Huntington Ingalls Industries provides the US military with its sole source of tritium gas. Tritium is a central component in nuclear warheads. The companies deliver the gas in a concentration intended for weapons use only. The company was excluded in 2015.

Jacobs Engineering

USA


Jacobs Engineering Group is involved in the development of central elements and services connected to nuclear weapons. The company's joint venture, Atomic Weapons Establishment (AWE), is involved in the production and maintenance of warheads for the Trident II missile system, which is a part of the British nuclear defense system.




Lockheed Martin USA Capital goods The company is involved in the development of central components and

services connected to nuclear weapons. The company's joint venture Atomic Weapons Establishment (AWE) is involved in the production and maintenance of warheads for the Trident II missile system, which is part of the British nuclear defense system. The company was excluded in 2005.

Northrop Grumman

USA Capital goods The company is, according to its own press release, contracted to complete maintenance and upgrading of the US Air Force’s Minuteman III ICBMs. ICBMs constitute the main component of the United States' land-based, strategic nuclear weapons. The company was excluded in 2006.

Orbital ATK

USA

Capital goods

Formerly, Alliant Techsystems. Orbital ATK has been involved in several weapon projects, both as a supplier of special components and as the main producer of whole cluster munitions. The company no longer produces cluster munitions, but follows US policy on the subject and will produce if there is demand. Alliant Techsystems is also involved in the production and maintenance of nuclear weapons (US nuclear defense system). The company was excluded in 2005.

Poongsan Corporation

South Korea Materials Poongsan Corporation produces various types of ammunition for military use, hereunder, cluster munitions. On its website, the company describes three variations of this type of weapon.



The company was excluded in 2008. Poongsan Holdings Corporaiton

South Korea Materials Poongsan Holdings owns 32 percent of Poongsan. See the reason for exclusion of Poongsan. The company was excluded in 2007.

Raytheon USA Capital goods Raytheon is involved in the development of central elements and services

connected to nuclear weapons. The company is involved in the Trident II missile system, which is a part of the US nuclear defense system. According to its website, the company also produces JSOWs (joint stand off weapons) and cluster ammunition for these. This weapon is considered a cluster munition. This information is confirmed by Jane’s Information Group. The company was excluded in 2007.

Safran Group Frankrike Capital goods Safran is the parent company for the companies Snecma and Sagem, which

according to Jane’s Missiles and Rockets are producing a new missile system (M51) for strategic nuclear weapons for the French Navy. The company was excluded in 2007.

Serco Group UK Commercial

services and supplies

Serco Group has confirmed that the company produces weapons that can be characterized as nuclear weapons. Through a joint venture with Atomic Weapons Establishment, the company maintains the UK's nuclear weapons. The company was excluded in 2008.

Singapore Technologies

Singapore Capital goods The company has confirmed that it produces landmines – not for export, but for Singapore's defense. Singapore has not signed the Anti-Personnel Mine Ban Convention.




ST Engineering Financial 1

Singapore

No GICS industry code

ST Engineering Financial is the financing arm for Singapore Technologies. The company was excluded in 2016.

Textron USA Capital goods Textron develops, produces and markets cluster munitions and components

of cluster munitions that are prohibited under the Convention on Cluster Munitions. The company claims that altering the design of this type of weapon could be a possibility in order to comply with the convention, but that the company is not "convinced that this would be the best solution to eliminate the unacceptable risk for civilians." The company was excluded in 2008.



Tobacco producers

Company Country

Adris Grupa Pref Croatia Alliance One International USA Altria Group USA British American Tobacco UK Grupo Carso Mexico Gudang Garam Indonesia HM Sampoerna Indonesia Huabao International Holdings Hong Kong Imperial Tobacco UK ITC India Japan Tobacco Japan KT&G Corp South Korea Lorillard USA Philip Morris USA Reynolds American USA Sabanci Holdings (Haci Omer) Schweitzer-Mauduit

Turkey USA

Shanghai Industrial Holdings Hong Kong Souza Cruz Brazil Swedish Match Sweden Universal Corp USA Vector Group USA



Coal companies

Company Country Industry Group Aboitiz Power Corp. Adani Power Ltd.

Philippines India

Utilities Utilities

Adaro Energy Tbk Indonesia Coal and other fuels AES Gener SA AGL Energy Ltd.

Chile Australia

Utilities Utilities

Allete Inc. Alliant Energy

USA USA

Utilities Utilities

Ameren Corp. USA Utilities American Electric Power Co., Inc. USA Utilities Appalachian Power Co. Banpu Public Comp. Ltd.

USA Thailand

Utilities Coal and other fuels

Capital Power Corp. CESC Ltd. China Coal Energy Comp., Ltd.

Canada India China

Utilities Utilities Coal and other fuels

China Power International Development China Utilities China Resources Power Holdings Comp. Ltd. China Utilities China Shenhua Energy Comp. China Coal and other fuels CLP Holdings Ltd. Hong Kong Utilities Coal India Ltd. India Coal and other fuels CONSOL Energy, Inc. USA Coal and other fuels Datang International Power Generation Comp., Ltd. China Utilities DMCI Holdings, Inc. Philippines Capital goods Drax Group PLC DTE Energy Co. Duke Energy Corp.

UK USA USA

Utilities Utilities Utilities

Dynegy Inc. E-CL SA

USA Chile

Utilities Utilities

Electric Power Development Japan Utilities Electricity Generating PCL Thailand Utilities



Exxaro Resources Ltd. South Africa Coal and other fuels FirstEnergy Corp. USA Utilities Glow Energy Public Co. Thailand Independent power producers and energy traders Gujarat Mineral Development Corp. Ltd. HK Electric Investments Ltd. Hokkaido Electric Power Co. Inc. Hokuriku Electric Power Comp.

India Hong Kong Japan Japan

Coal and other fuels Utilities Utilities Utilities

Huadian Power International China Utilities Huaneng Power International Inc. China Utilities IDACORP Inc. Indiana Michigan Power Co. Indo Tambangraya Megah Tbk PT

USA USA Indonesia

Utilities Utilities Coal and other fuels

Inner Mongolia Yitai Coal Co., Ltd. China Coal and other fuels Korea Electric Power South Korea Utilities Lubelski Wegiel Bogdanka SA MGE Energy Inc. New Hope Corp. Ltd. Northern States Power Co. MN NRG Energy, Inc.

Poland USA Australia USA USA

Coal and other fuels Utilities Coal and other fuels Utilities Independent power producers and energy traders

NTPC Ltd. India Utilities OGE Energy Corp. USA Utilities Okinawa Electric Power Co. Inc./The Peabody Energy Corp.

Japan USA


Pinnacle West Capital USA Utilities PNM Resources Inc. Public Power Corp. SA Public Service Co. of Colorado Public Service Co. of New Mexico Reliance Infrastructure

USA Greece USA USA India

Utilities Utilities Utilities Utilities Utilities

Reliance Power Ltd. India Utilities Shikoku Electric Power Japan Utilities Shougang Fushan Resources Group Ltd. Hong Kong Steel production Southwestern Public Service Co. Tambang Batubara Bukit Asam Tbk PT

USA Indonesia




The Southern Company USA Utilities Tata Power Co., Ltd. India Utilities TransAlta Corp. Canada Utilities Union Electric Co. (d/b/a/ Ameren Missouri) WEC Energy Group

USA USA

Utilities Utilities

Westar Energy, Inc. Whitehaven Coal Ltd. Wisconsin Electric Power Co. Xcel Energy Yanzhou Coal Mining Comp. Ltd.

USA Australia USA USA China

Utilities Coal and other fuels Utilities Utilities Coal and other fuels

KLP list Companies excluded as of June 21st, 2016english.klp.no/polopoly_fs/1.34185.1466491449!/menu/standard/file... · Porgera mine in Papua New Guinea. ... Genting Berhad, ...

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