Norwegian NGO Tells Wealth Fund to Dump Coca-Cola
Water scarcity is a global issue that many countries and states face. India is one of them. The United Nations General Assembly has a position that clean drinking water and sanitation are important for human rights. Foreningen for Internasjonale Vannstudier (FIVAS), a Norway-based NGO, published a report, “Dead in the Water,” which brings to light Coca-Cola’s mismanagement of water in India. The report makes a case that part of Coca-Cola’s Indian operations essentially deprive local communities of water, thus propagating conflict among local communities, farmers and Indian state institutions. FIVAS argues Norway’s Government Pension Fund – Global (GPFG) should divest from listed shares in Coca-Cola due to these alleged unsustainable practices. Norway’s massive sovereign wealth fund, as of 2014, owns nearly US$ 1.3 billion worth of stock in Coca-Cola. This is a little less than a 1% ownership stake in the beverage giant.
Could Coca-Cola Join the List of Excluded Companies?
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