An investigation by the bank, which invests Norway’s oil revenues, revealed G4S had “behaved in a manner which is at the limit of, or outside, accepted norms” with regard to its treatment of migrant workers in Qatar and UAE.
An oil and gas production platform in Norway. Image: V. Belov/Shutterstock
Boardrooms were delivered a blunt reminder this week that human rights cannot be ignored.
Norges Bank, the $1,000bn sovereign wealth fund investing Norway’s oil revenues, announced it would exclude G4S from its portfolio because of an “unacceptable risk” that the company is either responsible for, or contributes to, “human right violations”.
G4S, one of the world’s biggest private employers with 570,000 people in 90 countries, never seems very far away from the headlines, but the Norges Bank announcement, which relates to migrant workers in Qatar and United Arab Emirates, throws a fresh spotlight on the company’s activitie
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