Storebrand Puts Palm Oil on Blacklist With Tobacco
This article is for subscribers only.
Storebrand ASA ended its investment in most palm oil producers, apart from Golden Agri-Resources Ltd., after Norway’s second-largest insurer found the companies breached its environmental sustainability standards.
“The main driver behind deforestation in tropical regions is often the establishment of new palm oil plantations,” Christine Meisingset, head of sustainable investments at the insurer, said in a statement. “Storebrand would rather invest more in companies that are pushing the industry toward a more sustainable approach.”