Norway fund blacklists security firm G4S over rights worries

U.S. & World

FILE – In this file photo dated Thursday, Jan. 26, 2012 a G4S security company logo is seen during a news conference in London. The board of Norway’s sovereign wealth fund said Thursday Nov. 14, 2019, it is banning all financial holdings in British security services company G4S due to the risk that it “contributes to or is responsible for serious or systematic human rights violations.” following a recommendation from Norway’s Council on Ethics, which monitors investments. (AP Photo/Matt Dunham, FILE)

COPENHAGEN, Denmark (AP) — Norway’s sovereign wealth fund says it is banning all financial holdings in British security services company G4S due to the risk that it “contributes to or is responsible for serious or systematic human rights violations.”

The board of the world’s largest fund of its kind said Thursday’s decision came after a recommendation from Norway’s Council on Ethics, which monitors investments.

The council said G4S provides security services in over 90 countries and had assessed its operations in Qatar and the United Arab Emirates, where its employees are mostly migrant workers.

It said many G4S workers have their passports taken, are paid less than agreed to, and take loans to pay fees to get their jobs with the company. They are then often unable to quit due to the debt.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

CBS47 On Your Side

Do you have a problem that you need help solving? Contact CBS47 and let us be On Your Side.

Phone: 559-761-0383
Email: OnYourSide@cbsfresno.com

Don’t Miss

Best of the Valley
Sunday Morning Matters
MedWatch Today
Hispanic Heritage
Bulldog Insider: The Podcast
The Valley's Armenia
Pros Who Know

Images from Armenia

Small patients in Armenia
Yerevan by night.
Dr. Jeff Thomas delivers.
Dr. Jeff Thomas delivers in Gyumri.
Doctors unpack medical supplies from The Central Valley.
Fresno Medical Mission at work.
Medical Supplies being unloaded.
Fresno Medical Mission at the ready.
KSEE24 crew witnesses the miracle of life in Gyumri, Armenia.
Life saving work of Central Valley surgeons in Armenia.
Ribbon cutting on new surgical center in Ashtarak Armenia. Fresno donors made this dream come true.
KSEE24 on assignment with the Fresno Medical Mission
Honorary Consulate to Armenia Berj Apkarian explains the crisis facing one hospital.
KSEE24's Stefani Booroojian and Kevin Mahan at the meeting with President Bako Sahakyan.
Medical Meeting in Artsakh.
The President of Artsakh meets with the Fresno Medical Mission.
Learning modern medicine techniques with the Fresno Medical Mission in surgery.
Leaning in for a look. Dr. Brien Tonkinson holds class and helps a patient in Armenia.
Fresno Medical Mission cares on one of the smallest patients in the region. Six-year old Yanna receives life-changing better breathing surgery.