RIO DE JANEIRO, BRAZIL - The Norwegian Central Bank announced on Wednesday the decision to exclude mining company Vale and state-owned energy company Eletrobras from investments made by the world's largest sovereign fund, which manages a reserve of more than US$1 trillion (R$6 trillion) from oil-generated profits in Norway.
The sanction imposed on seven companies, including the two Brazilian giants, is based on human rights violations and environmental damage caused by mega-developments in the Amazon region and tragedies in mining extraction areas.
As a result, the companies sanctioned will no longer be eligible to benefit . . .