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Norges Bank has decided to lift the exclusions of Cairn Energy Plc and Kosmos Energy Ltd from the Global Government Pension Fund.
Companies were excluded from the fund in 2016 after assessing the risk of particularly serious breaches to basic ethical standards.
The Executive Board's decision to lift the exclusions was made on the basis of a recommendation from the Ethics Council, which will regularly assess whether the basis for the observation or exclusion is always present.
Cairn Energy Plc and Kosmos Energy Ltd have been ruled out because of the unacceptable risk that oil exploration companies off the coast of Western Sahara are contributing to the flagrant violation of fundamental ethical standards. The companies have made it clear to the Ethics Council that they have been successful in the area in question, Norges Bank writes.
Based on this information, the Ethics Council recommended ending the exclusions.
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