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November 29th, 2011:

Norway divests $2 billion from tobacco companies

Today, the Norwegian Government announced that it will divest its funds from all companies which take more than five percent of their profits from tobacco production.

The Norwegian government pension fund, Global, which according to is considered to be the world’s second largest pension fund, has till recently held huge interests in the tobacco industry.

The Norwegian Minister of Finance, Ms Kristin Halvorsen, today announced that Norway will divest USD 2.1 billion which is currently invested in the tobacco industry and replace this with other stocks.