Norway’s sovereign wealth fund engages with miners over Amazon project concerns
"Rehabilitation of deforested areas is unlikely to mitigate the environmental damage resulting from the removal of intact rainforest."
Norway’s government pension fund has asked fund manager Norges Bank Investment Management (NBIM) to engage with Rio Tinto and South32 over an ‘unacceptable risk’ of environmental damage in their joint Amazon project.
NBIM manages the country’s sovereign wealth fund on behalf of the government, and its executive board decided to engage with the two miners on “their work to reduce serious environmental damage” in relation to a bauxite mine located in the Amazon rainforest.
