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December 23, 2010
Norway's Pension Fund Invests in Companies with Ties to Burma's Military Regime
Despite ethical guidelines for Norway's pension fund, EarthRights International finds its investments in oil and gas companies in Burma contribute to human rights violations.
More than 70% of the foreign reserves held by the military regime of Burma, considered one of the
most corrupt governments in the world, are provided by foreign oil and gas companies, including the
US-based Chevron. According to EarthRights
International (ERI), "Significant portions of this revenue end up in bank accounts held for the
benefit of individuals closely associated with the military regime."
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