Norwegian involvment in Indonesia's coal production
More than 18 billion kroners has been invested in Indonesian coal by the Norwegian Government Pension Fund, according to an investigation by Future in our hands.
Villagers of Kerta Buana lives only meters away from this coal mine in East Kalimantan. Photo: Sigurd Jorde
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More than 18 billion kroners has been invested in Indonesian coal by the Norwegian Government Pension Fund, according to an investigation by Future in our hands.
A rapid increase in production and exports of coal from Indonesia has severe impact on the environment, development and food production. The coal production has increased by a factor of four the last ten years, and Indonesia is now the largest exporter of coal in the world.
The Norwegian Government Pension Fund has seen this as a great oportunity for investment, and now has stocks in 17 indonesian and international mining companies with mines and mining consessions in Sumatra and Kalimantan.
The companies, the impacts and views of Indonesian society is documented in our report "Coal and climate in Kalimantan".
pdf Report Coal and Climate in Kalimantan 2013
Update: A new investigation into the portfolio of the Norwegian Government Pension Fund in March 2014, based on its updated data, reveals the fund has now sold all its stocks in six Indonesian coal companies while keeping stocks in the international coal companies.