Norway fund drops Eramet over Indonesia mine threatening forests, Indigenous tribe
news.mongabay.com
JAKARTA — Norway’s $1.6 trillion state pension fund has dropped French miner Eramet from its investment portfolio over its role in a vast Indonesian nickel mine accused of destroying rainforest and threatening one of the world’s few remaining uncontacted Indigenous groups. The Government Pension Fund Global, the world’s largest sovereign wealth fund, held a 0.44% […]
  • Norway’s $1.6 trillion government pension fund is divesting its $6.8 million stake in French miner Eramet after its ethics council found “unacceptable risk” of severe environmental damage and human rights violations at the PT Weda Bay Nickel mine the company operates in Halmahera, Indonesia.
  • Weda Bay Nickel sits in the Wallacea Biodiversity Hotspot and has already cleared about 2,700 hectares (6,700 acres) of rainforest since 2019, far exceeding its plan, threatening endemic species and risking extinctions before they’re documented.
  • The case highlights growing investor scrutiny over whether nickel for electric vehicle batteries and other clean-energy technologies can be sourced without destroying tropical forests or violating Indigenous rights.