REGULATORY · COMPETITIVE · INDIA
Norway sovereign wealth fund portfolio exclusion of Adani Green Energy
Change
Norges Bank Investment Management added Adani Green Energy Ltd to its exclusion list, deciding to exclude it from the Norwegian sovereign wealth fund’s portfolio on a “gross corruption or other serious financial crime” criterion.
Why Now
Norges Bank, through Norges Bank Investment Management, manages Norway’s $1.2 trillion sovereign wealth fund. The manager added Adani Green Energy Ltd (AGEL) to its list of excluded companies, which constitutes a portfolio exclusion decision. The stated criterion for the decision was “gross corruption or other serious financial crime,” with no additional explanation provided. The excerpt also notes that Norges Bank had excluded Adani Ports and Special Economic Zone Ltd in May 2024.
Impact
- • Adani Green Energy Ltd is excluded from the Norwegian sovereign wealth fund’s investment por
- • The exclusion is recorded on Norges Bank’s public list of companies decided to be excluded.
Who Recalculates
- • Sovereign wealth fund portfolio managers
- • Institutional investors and compliance teams
- • Adani Green Energy Ltd (issuer/management)
Source
Topics
Law & Public Safety Regulatory Actions Compliance Finance & Banking Financial Services