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Norway says no 2 Private military corporations investment

Norwegians have reused to invest in these dirty dealers but why are we welcoming them to Wales?

"Private military corporations become a way [for government officials] to distance themselves and create what we used to call `plausible deniability.'"

Daniel Nelson, former professor at the Defense Department's Marshall European Center for Security Studies "In recent years, soldiers-for-profit have served in Liberia, Pakistan, Rwanda and Bosnia. They have guarded Afghanistan's president, Hamid Karzai, and built the military detention facilities holding Al Qaeda suspects in Guantánamo Bay, Cuba. They have been an essential part of the American war on drugs in Latin America."

Privatized corporate military operations now draw an estimated $100 billion in business worldwide each year -- much of it going to top U.S. corporations like Halliburton, DynCorp, Lockheed Martin, Grumman, and Raytheon. The military-industrial companies that once just created the guns and warplanes now provide mercenary forces for "privately" carrying out the military attacks and defoliation

Blackwater is a highly connected mercenary corporation--based in North Carolina, but with offices in McLean, Virginia, near CIA headquarters. They operate a 5,200-acre state-of-the-art commando training ground in North Carolina's Great Dismal Swamp--basically a private military base. It provides privatized training for U.S. military personnel and police.

Norway’s Ethical investments
First to be banished were companies involved in the manufacture of cluster bombs, land mines and nuclear weapons. In addition to Boeing, these included General Dynamics Corp., Raytheon Co., Lockheed Martin Corp. and a host of other mainly U.S.-based defense contractors.

The Norwegian Government Pension Fund, worth about $350 billion, is one of the largest piles of investment capital in the world.

Nearly triple the size of Vanguard's 500 Index Fund and rapidly closing in on the TIAA-CREF's $406 billion College Retirement Equities Fund, Norway's pension fund is the biggest equity owner in Europe and has quietly emerged as a global financial force.

Its money comes from Norway's vast North Sea oil wealth. As the world's third-largest oil exporter -- only Saudi Arabia and Russia export more -- Norway is raking in about $1 billion a week. But instead of using it to underwrite a lavish lifestyle for its royal family or wielding it as a political weapon, the Norwegians are quietly amassing a nest egg to pass on to future generations.

The fund was established in 1990. By late 2004, when its influence in international markets become impossible to ignore, Norway's legislature established the ethics council and spelled out guidelines that prohibit the fund from owning stock in companies responsible for "violations of fundamental humanitarian principles, serious violations of human rights, gross corruption or severe environmental damage."

The Norwegian government likes to believe that its ethical investing policy contributes in some significant way to good corporate behavior.
First to be banished were companies involved in the manufacture of cluster bombs, land mines and nuclear weapons. In addition to Boeing, these included General Dynamics Corp., Raytheon Co., Lockheed Martin Corp. and a host of other mainly U.S.-based defense contractors.