{"id":10129,"date":"2019-11-15T09:06:13","date_gmt":"2019-11-15T09:06:13","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=10129"},"modified":"2019-11-15T13:36:32","modified_gmt":"2019-11-15T13:36:32","slug":"norway-wealth-fund-cuts-investments-in-uk-firm-g4s","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/","title":{"rendered":"Norway Wealth Fund Cuts Investments In UK Firm G4S"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/11\/norges-bank-investment-management.jpg\" alt=\"Norges Bank Investment Management\" width=\"300\" class=\"alignleft size-full wp-image-10130\" \/>Human right violations take place all over the world on a daily basis but it is less prevalent in places like the U.S and Europe. <\/p>\n<p>However, a number of European and American companies make significant profits by violating human rights in third world countries as many of these factories which supply products to them engage in illegal practices.<\/p>\n<p>This is the reason why Norway\u2019s Sovereign Wealth fund decided to cut all ties with <a href=\"https:\/\/www.g4s.com\">U.K. security firm G4S Plc<\/a> because of accusations that it was contributing to systemic abuses of the rights of migrant workers in the <strong>UAE<\/strong> and <strong>Qatar<\/strong>.<\/p>\n<p>The <a href=\"https:\/\/www.nbim.no\">Sovereign Wealth fund is valued at around $1.1 trillion<\/a> and its investment in any corporation carries a lot of weight. When news broke that the Sovereign Wealth fund would no longer deal with G4S, share prices quickly dropped by 3.7 percent. The fund only had a 2.33 percent stake in the company but it was still a sizable $91 million.<\/p>\n<p>Norway\u2019s sovereign wealth fund is the world\u2019s biggest fund and it follows a set of ethical principles for investment. This is why it does not invest in tobacco and weapons production. It also tries to avoid companies that are behind massive environmental damage or are part of human rights abuses. It currently keeps an exclusion list of 156 companies that it will not invest in because of ethical reasons, with G4S being the latest addition.<\/p>\n<p>The human rights issues were raised by <strong>Norway\u2019s Council of Ethics<\/strong> and forced G4S to do an investigation. The <a href=\"https:\/\/etikkradet.no\/files\/2019\/11\/G4S-tilr\u00e5ding-engelsk.pdf\">recommendation of the council was to exclude ownership from the company<\/a> because of the accusation of rights abuses. G4S claims that it has already made some progress in improving the condition of its workers and its hiring practices.<\/p>\n<h2>Initial Accusations<\/h2>\n<p>According to the Council of Ethics, the <strong>company has brought in over 18,000 workers from countries like Pakistan, India, and Nepal to work at their factories in Qatar and the UAE<\/strong>. The investigation showed that workers were paying G4S recruitment fees to work for the company. This is not a hiring practice you see in many modern countries and it burdens the workers with a debt that eats into their salaries. <\/p>\n<p>G4S were also paying these migrant workers a lesser salary amount than what they had agreed to. The company had confiscated their passports so that they were not in a positive to leave the country even if they wanted.  Besides these injustices, G4S operations in these countries force workers to work long hours with no overtime. It also doesn\u2019t help that harassment seems common in these workplaces.<\/p>\n<p>The Council of Ethics says that even G4S accepts the fact that human rights abuses might be happening and have not indicated that they would end the practice of asking for recruitment fees.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Human right violations take place all over the world on a daily basis but it is less prevalent in places like the U.S and Europe. However, a number of European and American companies make significant profits by violating human rights in third world countries as many of these factories which supply products to them engage [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-10129","post","type-post","status-publish","format-standard","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Norway Wealth Fund Cuts Investments In UK Firm G4S<\/title>\n<meta name=\"description\" content=\"Norway\u2019s Sovereign Wealth fund has decided to cut all ties with U.K. security firm G4S Plc due to human rights issues\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Norway Wealth Fund Cuts Investments In UK Firm G4S\" \/>\n<meta property=\"og:description\" content=\"Norway\u2019s Sovereign Wealth fund has decided to cut all ties with U.K. security firm G4S Plc due to human rights issues\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-15T09:06:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-15T13:36:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/11\/norges-bank-investment-management.jpg\" \/>\n<meta name=\"author\" content=\"Petar Markoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@petarbejbi\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Petar Markoski\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/\"},\"author\":{\"name\":\"Petar Markoski\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/8f8796850357d24b6e9bde1117a32fc7\"},\"headline\":\"Norway Wealth Fund Cuts Investments In UK Firm G4S\",\"datePublished\":\"2019-11-15T09:06:13+00:00\",\"dateModified\":\"2019-11-15T13:36:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/\"},\"wordCount\":485,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/norges-bank-investment-management.jpg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/\",\"name\":\"Norway Wealth Fund Cuts Investments In UK Firm G4S\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/norges-bank-investment-management.jpg\",\"datePublished\":\"2019-11-15T09:06:13+00:00\",\"dateModified\":\"2019-11-15T13:36:32+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/8f8796850357d24b6e9bde1117a32fc7\"},\"description\":\"Norway\u2019s Sovereign Wealth fund has decided to cut all ties with U.K. security firm G4S Plc due to human rights issues\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/norges-bank-investment-management.jpg\",\"contentUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/norges-bank-investment-management.jpg\",\"width\":380,\"height\":250,\"caption\":\"Norges Bank Investment Management\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/\",\"name\":\"\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/8f8796850357d24b6e9bde1117a32fc7\",\"name\":\"Petar Markoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/petar-markoski.jpg\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/petar-markoski.jpg\",\"contentUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/02\\\/petar-markoski.jpg\",\"caption\":\"Petar Markoski\"},\"description\":\"Petar is the finance guru, if you need a good investment this is the guy you go to! Working majority of his days in the finance sector as trader, he has gathered plenty of insight on binary options and the forex markets\",\"sameAs\":[\"https:\\\/\\\/x.com\\\/petarbejbi\"],\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/author\\\/petar-markoski\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Norway Wealth Fund Cuts Investments In UK Firm G4S","description":"Norway\u2019s Sovereign Wealth fund has decided to cut all ties with U.K. security firm G4S Plc due to human rights issues","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/","og_locale":"en_US","og_type":"article","og_title":"Norway Wealth Fund Cuts Investments In UK Firm G4S","og_description":"Norway\u2019s Sovereign Wealth fund has decided to cut all ties with U.K. security firm G4S Plc due to human rights issues","og_url":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/","article_published_time":"2019-11-15T09:06:13+00:00","article_modified_time":"2019-11-15T13:36:32+00:00","og_image":[{"url":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/11\/norges-bank-investment-management.jpg","type":"","width":"","height":""}],"author":"Petar Markoski","twitter_card":"summary_large_image","twitter_creator":"@petarbejbi","twitter_misc":{"Written by":"Petar Markoski","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/#article","isPartOf":{"@id":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/"},"author":{"name":"Petar Markoski","@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/8f8796850357d24b6e9bde1117a32fc7"},"headline":"Norway Wealth Fund Cuts Investments In UK Firm G4S","datePublished":"2019-11-15T09:06:13+00:00","dateModified":"2019-11-15T13:36:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/"},"wordCount":485,"commentCount":0,"image":{"@id":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/11\/norges-bank-investment-management.jpg","articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/","url":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/","name":"Norway Wealth Fund Cuts Investments In UK Firm G4S","isPartOf":{"@id":"https:\/\/www.legitgambling.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/#primaryimage"},"image":{"@id":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/11\/norges-bank-investment-management.jpg","datePublished":"2019-11-15T09:06:13+00:00","dateModified":"2019-11-15T13:36:32+00:00","author":{"@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/8f8796850357d24b6e9bde1117a32fc7"},"description":"Norway\u2019s Sovereign Wealth fund has decided to cut all ties with U.K. security firm G4S Plc due to human rights issues","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.legitgambling.com\/news\/norway-wealth-fund-cuts-investments-in-uk-firm-g4s\/#primaryimage","url":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/11\/norges-bank-investment-management.jpg","contentUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2019\/11\/norges-bank-investment-management.jpg","width":380,"height":250,"caption":"Norges Bank Investment Management"},{"@type":"WebSite","@id":"https:\/\/www.legitgambling.com\/news\/#website","url":"https:\/\/www.legitgambling.com\/news\/","name":"","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.legitgambling.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/8f8796850357d24b6e9bde1117a32fc7","name":"Petar Markoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/02\/petar-markoski.jpg","url":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/02\/petar-markoski.jpg","contentUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/02\/petar-markoski.jpg","caption":"Petar Markoski"},"description":"Petar is the finance guru, if you need a good investment this is the guy you go to! Working majority of his days in the finance sector as trader, he has gathered plenty of insight on binary options and the forex markets","sameAs":["https:\/\/x.com\/petarbejbi"],"url":"https:\/\/www.legitgambling.com\/news\/author\/petar-markoski\/"}]}},"_links":{"self":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts\/10129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/comments?post=10129"}],"version-history":[{"count":0,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts\/10129\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/media?parent=10129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/categories?post=10129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/tags?post=10129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}