Norway wealth fund drops BHEL from its portfolio over environmental concerns
Bharat Heavy Electricals Ltd (BHEL) has a thermal power plant in the ecologically sensitive Sundarban mangroves. Photo: AFP
Oslo: Norway’s sovereign wealth fund, the world’s largest, has taken Indian industrial giant Bharat Heavy Electricals Ltd (BHEL) out of its investment portfolio due to environmental concerns, the Norwegian central bank said on Friday.
BHEL has been targeted because it is building a coal-fired thermal power plant in the Sundarbans, one of the world’s largest mangrove forests straddling Bangladesh and West Bengal.
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