Norway's Sovereign Fund Excludes Adani Green Amid Financial Crime Concerns

The Norwegian sovereign wealth fund has excluded Adani Green Energy Ltd. due to concerns over alleged financial crime links. This decision follows the exclusion of Adani Ports in 2024 and signals increasing scrutiny by the fund, which is known for investing heavily in fossil fuels.

Norway's sovereign wealth fund, the world's largest at USD 1.2 trillion, has removed Adani Green Energy Ltd (AGEL) from its investment portfolio. This move comes over concerns regarding the company's alleged links to financial crimes.

Norges Bank, responsible for managing the fund, cited 'gross corruption or other serious financial crime' reasons for this exclusion, although no further explanation was provided. The decision reflects the bank's growing vigilance towards ethical investment standards.

The exclusion of AGEL follows a similar move against Adani Ports & Special Economic Zone Ltd in May 2024. Historically, the fund has distanced itself from companies involved in coal production, environmental harm, and other controversial activities.

(With inputs from agencies.)