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Letters
Wednesday, January 16, 2008 12:00 AM

The socially responsible sovereign wealth fund

Here's a tip for China, Abu Dhabi and Singapore: Norway's investment strategy is truly radical. It's ethical.

The letters thread is now closed.

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Wednesday, January 16, 2008 03:29 PM

A tip for China?

This is supposed to be a tip for China on ethical investing?! What's next? Tips for the Mob on ethical investing?

Wednesday, January 16, 2008 03:34 PM

Norway

Has it right.

I still don't understand why we are so opposed to "euro" economics in this country. Europeans have a growing economy, excellent worker protections, a happy, healthy, cared for workforce, and a significant profit margin. Why? They NEGOTIATE! They've realized that you can have healthy profits and significant worker protection. They understand that they equation is not either or, but truly working for the best possible economic outcome, which can only happen when A) Corporations have enough to pay dividends and invest in capital and B) workers have enough to spend on goods/services/savings in their country. It's a no-brainer. And it may mean some protectionism is in order for the United States, as well as strengthening wages and labor. And it may mean expenses for business. It may mean business has to not only think about what's good for business, but what's socially/economically responsible as well.

And I'm sure that the current Republican ruling class is chomping at the bit to consider it.

Wednesday, January 16, 2008 03:40 PM

Wow!

Can I buy in? Sounds like just the sort of fund I'd like to put my own money in.

Wednesday, January 16, 2008 04:11 PM

funny

"Best practices" as defined by people who want transparency into sovereign wealth funds. Is it actually best for the sovereign nation or does it otherwise promote the interests of its people (or monarch if it's that kind of government)?

Mutual funds don't have to have that kind of transparency. Neither do large multinational corps with big investment divisions. Or would transparency be good for them too?

On the other hand. As an investor, I'd like to know exactly what they're doing and when.

Wednesday, January 16, 2008 05:04 PM

why stop there?

why not do all business in public? and all government operations?

there'd be less innovation, so what? a lot of innovation is crooked. but every business could use best practice, and would have to, to remain in business.

a lot of people would have to pay taxes they currently are evading, i can live with that.

and no secret treaties, no secret prisons, no secret political donations. not written down, anyway.

then we could have actual democracy.

Wednesday, January 16, 2008 05:38 PM

In a weird twist of irony the fund decided to fine itself for investing in Norweigian companies

That do business with Norway's own Ministry of Defense. Which is actually a violation of the NATO treaty. So there's more than enough insufferably precious stupidity to go around. Want to know two industries that pollute a great deal?

Paper recycling

Prescription drug manufacturing

We should ban both of them, I guess.

Wednesday, January 16, 2008 09:45 PM

I would NOT count Singapore as a democracy

An opposition leader there once got a stiff fine for publicly reciting passages in the Singaporean constitution!

Thursday, January 17, 2008 04:07 AM

Socially rsponsible soverigin wealth fund

""Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal -- that there is no human relation between master and slave.": Leo Nikolaevich Tolstoy - (1828-1910)

Russian writer

As long as this is created out of NOTHING as an interest bearing DEBT, where every one is enslaved from cradle to grave. The so called FREE trade is UN FREE, UN FAIR and UN JUST.

Interest is not necessary or inevitable, hence inflation can be abolished and national debts too.

In the First world the cretins(in the words of Murdoch) are allowed some creature comforts so as to make good cannon fodders, but in the Third World a child is murdered every THREE seconds as a result of interest charges.

The HOLOCAUST have been alive and well for decades, this is also part of population control.

When the powers that be have secured the necessary control of the resources, then the lesser breeds of the First World will be given the same treatments of the Third World.

The trouble with the enslaved, is as long as they are allowed to pontificate ''freely''they thing they are the masters.

As Kissinger pointed out it's not the reality but the perception that matters.

As in the main hands are being thrown up in the air as there are no alternatives, besides perhaps Marxism.

There is an alternative I came across.A non violent too.

The Modern Universal Paradigm / Money Supply (interest free)

acceptable to all races, religions,and continents.

The penny is beginning to drop as the financial Armageddon/tsunami is sweeping across the world, speed is being stalled by SWF's, the flood gates are open nothing will stop the melt down.

I agree with the previous statement that Singapore is not a democracy nor for that matter any other country. Financial dictatorship prevails due to the fact that money can be created out of NOTHING as an interest bearing DEBT.Norway is lucky it has oil revenues.

I wish the Noble foundation invest ethically, because the Noble Price is a farce

Moneylender

Thursday, January 17, 2008 06:32 AM

The world's nicest Vikings

Isn't this the same Norway that used to send its citizens out in long, skinny boats, armed with helmets and axes, to rape and pillage their neighbours as they saw fit?

My, what a difference a thousand years makes.

Thursday, January 17, 2008 06:33 AM

Illegal immigration is unjust says Norway

Those great democratic Nordic democracies also do not allow illegal immigration for the same reason Norway's fund attempts to be socially responsible.

Thursday, January 17, 2008 08:12 AM

Another sovereign wealth fund

that I'd like your take on, Andrew, is the Alberta Heritage Fund. Not sure how sovereign that is, or what it invests in, but it does provide some services for Albertans - free treatment for any cancer, for example.

Thursday, January 17, 2008 08:46 AM

Look just publish the results if they match the market so what

Green investing has done this for years. Typically they underperform the market. If Norway can fix that, then great. Live long and perspire! But I worry of the snowball effect where eventually everything is held up to some neo Calvinist standard and things that people don't usually have a problem with are now verboten. If you look hard enough, everything is eeeeevul to someone.

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