One Of Britian's Largest Corporations Is In Trouble For Foul Play
A sovereign wealth fund’s investment portfolio has decided to throw out one of England’s biggest corporate names for “grossly unethical conduct.”
Rio Tinto was thrown out of one of the worlds largest gold mines by Norway’s finance minister Kirsten Halvorsen. “Exclusion of a company from the fund reflects our unwillingness to run an unacceptable risk of contributing to grossly unethical conduct,” she said. “The council on ethics has concluded that Rio Tinto is directly involved, through its participation in the Grasberg mine in Indonesia, in the severe environmental damage caused by that mining operation. There are no indications to the effect that the company’s practices will be changed in future, or that measures will be taken to significantly reduce damage to nature and the environment,” she added in a formal statement posted on the ministry’s website. Rio Tinto however does not feel the same way. “Our immediate response is one of surprise and disappointment,” said Rio Tinto’s spokesman, Nick Cobban, in London. “We have an exemplary record in environmental matters – world leading, in fact – and they are given the very highest priority in everything we do.”
For the full story, please visit http://www.mathaba.net/rss/?x=605594
Photo: sryffel/Flickr
- Posted by CauseNews
- |
- 09.10.08
- |
- Go to original article
Related causes: Environment
Related Articles
-
Beyond Sport Awards: How Sports Inspire Social Change
The Beyond Sport Awards honor individuals and organizations that use sports to improve communitie...
- 03.18.10
- |
- 06:02pm
-
Lt. Dan Choi Arrested At 'Don't Ask, Don't Tell' Protest In Washington, D.C.
Following a 'Don't Ask, Don't Tell' protest in the nation's capital, discharged lieutenant and ga...
- 03.18.10
- |
- 11:53am
-
National Safe Place Week: Keeping Homeless Teens Safe
Over a million American teens find themselves homeless each year. In honor of National Safe Place...
- 03.17.10
- |
- 04:44pm
-
Kenyan Farmer Uses The Internet On His Cell Phone To Improve Life For His Community
A farmer in rural Kenya has discovered the power of technology to protect rural farmers and impro...
- 03.17.10
- |
- 03:04pm
-
Volunteering And Giving On St. Patrick's Day
St. Patrick's Day is typically celebrated in America by wearing green and drinking beer, but you ...
- 03.17.10
- |
- 01:49pm
