Danish PenSam has revised its guidelines and is now excluding companies that contribute to serious violations of individual rights in war or conflict. The company has added electronics firm Elbit and Dongfeng Motor to its exclusion list.

PenSam said it will now follow the government fund’s guidelines on exclusion, including matters concerning nuclear weapons, cluster bombs and serious violations in conflict or war. “We are aware that funds, especially in Sweden, follow or are inspired by the guidelines of the Norwegian fund,” Claus Asger Olsen, management board member at PenSam, said. He added that it will use Norway’s guidelines alongside PenSam’s own rules and UN resolutions. “If a UN resolution is not available on a certain company,we will refer to the Norwegian fund. By using the Norwegian guidelines we add another layer of information and value into our decision making process,” he said.

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