KLP, Norway’s largest pension fund with some $80 billion in assets, has announced it has blacklisted about 90 companies that profit from alcohol and gambling. Among the target companies are Dutch brewers Carlsberg and Heineken; wine and spirit makers RemyCointreau and Moet Hennessey; and gaming giants William Hill and Betsson. The fund also swore off pornography, but had no such investments in its portfolio.
The holdings accounted for about $320 million of the fund’s assets, reported Agence-France Presse.
“Responsible alcohol consumption and gambling can be positive elements in people’s lives,” KLP’s CEO Sverre Thornes said in a statement. “We acknowledge, however, that alcohol and gambling addiction have major negative consequences for individuals and their loved ones, as well as great costs for society.”
