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British campaigners ask oil fund to divest cladding companies

The oil fund CEO has reportedly received a letter from activists and leaseholders in the UK, asking the fund to divest companies if active ownership fails.

Photo: Ntb Scanpix/Reuters/Ritzau Scanpix/via REUTERS / X02351

Activists and tenants in England have asked the oil fund to divest certain companies or engage in active ownership, the Financial Times reports.

The letter, which was signed by several associations working to improve property safety as well as an MP, encourages Norges Bank Investment Management CEO Nicolaj Tangen to investigate investments in 11 construction and cladding companies. The work conducted by these companies is not considered to be fire safe.

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