Nordea Asset Management dropped Brazilian meat giant JBS SA from all its funds this month over concerns stemming from the company’s handling of deforestation, corruption charges, and employee health and safety amid the coronavirus pandemic.
The Helsinki-based money manager made the decision “after a period of engagement with the company, where we did not feel that we were seeing the response that we were looking for,” Eric Pedersen, head of responsible investments at Nordea Asset Management, told The Wall Street Journal on Tuesday.
Mr. Pedersen said the investment firm, which has some €223 billion ($261.8 billion) under management, pulled around €40 million from JBS following a separate decision last year to not buy more into the company.
The original full article can be found at wsj.com
(Picture: CHRIS HELGREN/REUTERS)