Norway mulls investing in corruption-free Malaysian firms

Norway Mulls Investing In Malaysian Firms With Zero Tolerance To Corruption, Practise CSR

KUALA LUMPUR, Nov 4 (Bernama) — Norway is looking at investing in Malaysian companies with zero tolerance for corruption and which practise corporate social responsibility, Norway Ambassador to Malaysia Hans Ola Urstad said Monday.

He said the Norwegian Pension Fund had to date invested at least RM5 billion in about 80 companies in various sectors in Malaysia including green technology-based companies.corrupt

“We also have Norwegian companies here in Malaysia, some of which are involved in subsea system in Port Klang and solution buildings,” he said during a press conference at the High-Level Forum on Biodiversity and Development Post 2015.

The forum was jointly organised by the Malaysian Industry-Government Group for High Technology (MIGHT) and Intergovernmental Science-Policy platform on Biodiversity and Ecosystem Services (IPBES).

Urstad said Malaysia had done well in its biodiversity and environmental issues.

About 56.4 per cent of Malaysia’s landmass is under forest.

At the 2009 Copenhagen Climate Summit, Malaysia committed to a 40 per cent reduction in the intensity of emissions of carbon dioxide per unit of gross domestic product by 2020, using 2005 as a base line, subject to technology transfer and new and additional funding from developed countries.

Urstad also said the Norway government had set aside US$1 billion to protect rainforest in Indonesia in next four years and has good cooperation with the Indonesian authorities.

Meanwhile, MIGHT President and Chief Executive Officer Yusoff Sulaiman said MIGHT was looking for funding and project where it can partner with other countries.

“We are look at international companies where we do not have a certain kind of expertise,” he said.

Source: BERNAMA

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