Norway’s $1 trillion wealth fund, Unicef set up children’s rights network
OSLO - Reuters
Norway’s $1-trillion sovereign wealth fund and Unicef have established a network to strengthen children’s rights in the garment and footwear industry, the fund said on Nov. 24.
“The network will facilitate dialogue, exchange experience of children’s rights efforts, and work to increase awareness and acceptance of children’s rights”, it said.
More than ten companies in which the fund has holdings will attend the first network event in Geneva on Nov. 27, and the plan is to hold three workshops over the next two years, as well as quarterly meetings.
The fund is the world’s largest sovereign wealth fund. It invests Norway’s revenues from oil and gas production for future generations in stocks, bonds and real estate abroad.
It is among the largest investors in a wide range of oil companies, holding stakes at the end of 2016 of 2.3 percent in Royal Dutch Shell, 1.7 percent of BP, 0.9 percent of Chevron and 0.8 percent of Exxon Mobil .