Norway’s sovereign wealth fund has ended observation of Supermax, two years after placing the Malaysian medical glove maker under watch over allegations that the company contributes to human rights violations.
Norges Bank’s decision comes over a year after the United States lifted a ban on Supermax, allowing it to resume sales. The company’s imports were barred from the U.S. in October 2021 over the alleged forced labor practices.
“According to the Council on Ethics, the company has during the time of observation reported that it has implemented several measures to improve conditions,” Norges Bank Investment Management said in a statement on Wednesday. “The risk that the company is contributing to human rights violations is no longer considered unacceptable.”
The trillion dollar wealth fund has also ended the observation of Southern Co and BHP, without giving any direct reason, and revoked exclusion of six companies, the fund said.
BHP was put under observation by the fund in 2020 for coal use and production.
Supermax, Southern Co and BHP did not immediately respond to Reuters requests for comment.
As part of Norges Bank’s work on the product-based coal criterion, the fund monitors company events and companies entering the market.
The sovereign wealth fund is also revoking exclusion of TXNM Energy, Public Power Corp, TransAlta, Jastrzebska Spolka Weglowa, Eneva SA and Capital Power.
The companies did not immediately respond to Reuters requests for comment.
Reuters
