Facebook should be dropped by sustainable funds, Nordea says
The decision to divest Facebook follows an announcement that Nordea had put the stock in 'quarantine.'
By Frances Schwartzkopff|June 22, 2018 at 12:13 PM
Thank you for sharing!
Your article was successfully shared with the contacts you provided.
(Bloomberg) –Facebook should be excluded from the holdings of money managers serious about ethical investing, says the head of sustainable funds at the biggest Nordic bank.
Sasja Beslik, who oversees sustainable finance within Nordea Bank AB’s $370 billion asset management unit, decided this week to divest holdings of the social networking giant. The move was provoked by what he characterized as an “unresponsive” approach by Facebook to Nordea’s queries on how the Cambridge Analytica scandal was being handled.
Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.
Your access to unlimited BenefitsPRO.com content isn’t changing. Once you are an ALM digital member, you’ll receive:
Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
'Tis the season for changes to primary medical plans. Download this infographic and learn 4 actionable solutions to help save your clients from the gloom of a new primary plan reality before it's too late.