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Norway Culling Nuclear Shares

Norway has stopped investing in seven companies involved in the production of nuclear weapons. It is no longer investing money, via its state pension fund, in companies whose activities \"violate fundamental humanitarian principles\". The seven companies excluded from the fund are BAE Systems, Boeing, Northrop Grumman, Honeywell International, Finmeccanica, Safran and United Technologies Corporation. Oslo said it had based its decision on information available on the companies\' websites as well as independent analysis. It said it had asked each of the companies concerned to clarify their position regarding nuclear weapons. One confirmed its involvement, the Ministry said, while the other six either did not reply or declined to discuss the subject. \"According to the ethical guidelines for the Government Pension Fund - Global, companies that produce weapons that through normal use may violate fundamental humanitarian principles shall be excluded,\" the Finance Ministry said in a statement. The fund - formerly known as the state petroleum fund - is one of the world\'s largest pension funds. It is managed by Norway\'s Central Bank under government guidelines. Norway is opposed to the proliferation of nuclear weapons although it remains a member of NATO, several of whose members have a military nuclear capacity.