Norwegian Fund Divests from Tahoe Resources

Latest from the Tahoe on Trial website is an exhortation to North American shareholders in Tahoe Resources to follow Norway’s Council on Ethics’ lead and divest. Canadian and U.S. investors are urged to make use of a report published last week that recommends the exclusion of Tahoe Resources from Norway’s Government Pension Fund Global (GPFG) portfolio due to ‘unacceptable risk of the company contributing to serious human rights violations through its operation’ at the Escobal silver mine in San Rafael Las Flores, south-eastern Guatemala.

The Council on Ethics for the Government Pension Fund Global (GPFG) is an independent council appointed by the Norwegian Ministry of Finance and makes recommendations to exclude companies from the fund or put companies under observation. The Council makes its recommendation following a specific assessment of a company’s operations based on the guidelines determined by the Ministry of Finance.

The Norwegian Council determined that the project poses a high level of risk given insufficient consultation processes, considerable resistance to the mine, inadequate measures to avoid human and Indigenous rights abuses and militarisation of the area.

There is also information on where you can call on North American companies to divest.

Here, for more on the Tahoe on Trial website and you can read about Tahoe recommendation in the Council on Ethics’ report here. You can also get some more background here, on GSN.

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Categories: Human Rights, Justice, Land

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