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Bloomberg: Walmart Is Now Ethical Enough for Norway’s $1 Trillion Wealth Fund
Category: Accounting / Financial
Norway’s $1 trillion wealth fund revoked its more than decade-long exclusion on Walmart Inc. after the U.S. retailer tightened control over potential human rights abuses in its supply chain.
Walmart has made “positive developments” in monitoring its suppliers, the fund’s Council on Ethics said in a statement released Tuesday.
“Furthermore, the company engages actively in selected, high-risk areas in order to help bring about improvements in working conditions,” the council said in a letter. “There seem to be fewer reports of poor working conditions in Walmart’s supply chain now than there were before.”
The fund also decided to revoke exclusions to Grupo Carso SAB de CV, General Dynamics Corp., Nutrien Ltd., Rio Tinto Ltd. and Rio Tinto Plc, as well as Wal-Mart de Mexico SAB de CV, according to a statement.
Read entire article HERE.
Source: Bloomberg