Greenpeace has criticised the Norwegian government for hypocrisy in relation to its ethical investments in Malaysia.
While the commentary itself is regarded in some quarters, both within Norway and without, as negative publicity, it indeed provides an exquisite example of how ethical investments have a sure impact on the development of corporate standards and company practices nearby the globe.
News From Malaysia
Norway's global investments are managed by the state-owned Norges Bank speculation Management, which manages a fund of over 0 billion, much of it invested agreeing to ethical speculation system and based on ethical speculation criteria.
Norway currently has over m invested in Sinar Mas, a Malaysian company which includes biofuels in its product range.
However, Sinar Mas stands accused of destroying rainforest and orang-utan habitats as part of its campaign to free up land for production of palm oil, which is a key ingredient of its biofuels. Sinar Mas has already admitted to clearing land for plantation, before it had received permits or made conservation assessments.
While the Norwegian government is treating the accusations of hypocrisy as negative publicity, there is also a sure side to the story.
The pressure from Greenpeace also highlights how governments and ethical speculation fellowships are struggling to ensure that their cash benefits only those fellowships which demonstrate high standards of environmental commitment and corporate governance.
They also demonstrate how they can adjust their ethical portfolios to avoid those fellowships and industries with skeletons in their ethical closet.
The situation in Indonesia also shows how a development on the global stage, while appearing to be a sure environmental development, can be fraught with ethical concerns and problems when you dig a minuscule deeper.
The Indonesian government is promoting the creation of palm oil plantations in Papua, as a way of bringing development to the region.
They are also claiming that by expanding production of palm oil, which is a basic ingredient of biofuels, makes a solid and highly ethical offering to the gradual switch away from fossil fuels.
However, there has been comprehensive bullying and coercion of local communities in Papua, to force them to allow their land to be used in this way.
In one case, a 4-year-old boy was forced to sign documents giving a plantation company operate of his family's land for decades.
On a more sure note, Norway recently scrapped its investments in Samling Global, a Malaysian timber company accused of illegal logging and environmental damage.
How Ethical Investments affect Events on a Global LevelRecommend : todays world news headlines
0 comments:
Post a Comment